Niall Quinn broadband business looks to appoint liquidator
Alphasat Communications had creditors to the tune of €3.5 million in 2015
Niall Quinn’s Alphasat Communications has called a creditors meeting with the aim of appointing a liquidator. Photograph: Laurence Griffiths/Getty Images
A broadband business owned by former footballer Niall Quinn has called a meeting of creditors with the aim of appointing a liquidator.
Alphasat Communications had a shareholder deficit of over €2.8 million in the last set of accounts filed with the companies office in October 2015.
At that time the company had creditors to the tune of over €3.5 million. Some €1.4 million was owed to the company’s parent company, Q-Sat Holdings, of which Mr Quinn and his wife Gillian Quinn are also directors.
Another €1 million was owed to one of the company’s ultimate shareholders, Maxillian, a British Virgin Islands vehicle owned by a group of Irish and international investors. It is not clear if either of these sums are still outstanding.
Commenting on the health of the company in 2014, Mr Quinn told the Irish Examiner newspaper that he was “pretty certain that the business will record a decent profit in 2014”.
The former Irish footballer did not immediately respond to a request for comment from The Irish Times.
Mr Quinn’s Q-Sat was embroiled in an almost £1 million financial dispute earlier this year with listed British satellite company Avanti Communications.
Q-Sat bought bandwidth from Avanti and used this to provide broadband services to more than 3,000 households in rural Ireland, targeting hard-to-reach areas with limited access to other forms of broadband.
The dispute between Avanti and Q-Sat led the British company to effectively switch off Q-Sat’s services in May, leaving its customers without service.
The creditors meeting for Alphasat Communications is due to take place on September 11th.