Milners Residents

Blueythebear

New Member
its only a temporary liquidation -
the case is coming back to the high court at the end of the month -
see the rte website -

Link to Story - http://www.rte.ie/news/2009/0717/laragan.html
I don't think that there's such a thing as a temporary liquidation. I think it's a case that the judge makes an order for the company to be liquidated and then it's put back in for mention in Court in order for a liquidator to be appointed, which will probably be the same guy who acted as examiner.

"Can the liquidator can sell the contracts to a third party?"

No, the liquidator cannot sell the contracts as that would involve a third party in the contract which under contract law is not permitted. The contract is between Laragan and depositors.

"Is it possible that the liquidator could determine that it is in the best interest of the creditors to get Milners Square Completed?"

I wouldn't think so as the liquidators job is to realise all of the assets and sell them in order to pay off all the debts and liabilities.

"Is it possible that the liquidator would enforce contracts with buyers in Milners Square knowing that there are "contracts" that if completed will give a higher profit than current prices?"

It's arguable that the contracts have been breached by Laragan and that they are unenforceable due to the delays. It should be noted that the liquidators duty is to the creditors and not the company so that it is unlikely (and debateable as to whether he can do so anyway) that the liquidator would insist on completion of contracts.
 

dublin9_poppy

New Member

andycole

New Member
What is the difference between Liquidation and Receivership?

Appointment of Receiver: Laragan Developments Limited
24 July 2009

Mr. John Mc Stay and Mr. James Luby, of McStay Luby were appointed as receivers and managers by Anglo Irish Bank Corporation Limited on 17th July 2009.
 

annkaren

New Member
It was just basically saying who they were and there was a frm to be filled out and returned. Also letter from examiner arrived today not sure what that said though.
 

block e

New Member
letter

Has any one in block e or f got these letters or is it just the people in blocks a-d again? i haven't had any correspondence at all. :(
 

dublin9_adi

New Member
Re letter from liquidator

In Block F havent heard a thing from anyone. Our last letter was sent to Laragan last January and we have nothing since then. So maybe its just A to D again.

What are people in Bocks F and E hoping to do. I personally am not happy to close now. We are are on the 3rd floor, so if the lifts break down, who would fix them??? or anything else for that matter. What will happen the rest of the site, maybe sold DCC. We didnt just buy our apartment we bought into the finished development.Would love to know what ye all intend to do.
 

annkaren

New Member
In Block F havent heard a thing from anyone. Our last letter was sent to Laragan last January and we have nothing since then. So maybe its just A to D again.

What are people in Bocks F and E hoping to do. I personally am not happy to close now. We are are on the 3rd floor, so if the lifts break down, who would fix them??? or anything else for that matter. What will happen the rest of the site, maybe sold DCC. We didnt just buy our apartment we bought into the finished development.Would love to know what ye all intend to do.
Get your solicitor to look over part 5 of your contract, its about the insolvency of the contractor.
 

block e

New Member
Liquidation

Does anyone know what happened in the high court on the 31st. Was Hanly successful in his appeal or is he definately in liquidation?
 

ann dunne

New Member
is there people down there on the site they must be appealing it because we heard noting and theres no news of them being in court on friday
 
Receiver / Liquidator

Just wondering does anyone know if Milner's Square can be sold on to another developer? If Milner's Square can be sold to another developer can this be done without sorting out loose ends. i.e. breached contracts and outstanding deposits? :confused: Personally I think the development should not be allowed to be sold without refunding deposits.
 

ann dunne

New Member
all the builders are falling togeter has any body heard anything i went by the orther day the crans are still there i say they probley start selling some of there machinere
 
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