The Irish High Court has appointed a liquidator for the property firm owned by ill-famed solicitor Michael Lynn, the Irish Independent Daily reports.
Kendar Holdings Ltd, run by Lynn, owes 325 414 euro to Welplan construction company, and is being investigated by the garda fraud squad. The debt was for goods and services received by Kendar under contract in the last six years.
A letter of demand was served on Kendar at its offices on December 20 2007, the Irish Independent reports, but the money had not been paid. Welplan was satisfied the company was insolvent and unable to pay its debts.
The judge made an order winding up the company and appointed a liquidator.
Lynn, who has over 105 properties in Slovakia, Bulgaria, China, Spain, England, Dubai and Ireland, was alleged to have taken out multiple mortgages on several properties with major Irish banks, with alleged loan liabilities of more than 26 million euro.