A liquidator who claims members of the Sloyan family perpetrated a €4 million fraud against their own development firm before its liquidation has filed a legal action against the company’s former accountants Tynan Dillon.
The well known accountancy firm is chaired by former finance minister Charlie McCreevy and was founded in 1952 by founded in 1952 by Pat Tynan and Sean Dillon.
Aidan Garcia, who is the liquidator of Sloyan Brothers building / development firm, claimed in the Commercial Court earlier this month that family members transferred a company property worth €4 million to themselves for no charge and left an unpaid tax bill of €4.4 million.
Mr Garcia claims property in Cabinteely, Dublin 18, where 44 apartments were built, was transferred to Sloyan Brothers shareholders Joseph, Seamus and Sean Sloyan and Catherine Doherty, and also to Maura Sloyan and Clare Sloyan-Roche, in March 2006.
The company then went into liquidation in 2007 leaving its creditors owed money.
Mr Garcia, of Copsey Murray chartered accountants, by filing court papers saying he intends to take legal action against Tynan Dillon as the accountants to the company. This adds yet another party to his various legal actions in relation to the liquidation.
He has also sued AIB in relation to the matter. Mr Garcia has claimed in the Commercial Court that AIB knew that Sloyan Brothers had not been paid for the Dublin 18 land when the bank sanctioned a mortgage for the lands to be repaid once the apartments were build.
AIB denies any wrongdoing, and says it lend the money to family members, and not to the company. Mr Garcia in suing the six members of the Sloyan family and AIB is hoping to have either the Cabinteely asset returned or its estimated value of €8 million.
Mr Garcia did not respond to requests for comment. Tynan Dillon also did not respond to calls or emails. The accountancy firm is expended to deny any wrongdoing.
Mr Garcia has also previously said he intended to sue his predecessor as liquidator, Barry Forrest, from whom Mr Garcia took over as liquidator in October 2012.
In October 2014 Mr Garcia said in an affidavit: “I have painstakingly tried to unearth what happened to the company’s main asset in these proceedings and have received conflicting versions of events from the directors / shareholders and its bankers.”
