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Article: Former entrepreneur of the year applies for 'arranging debtor' status
- Article from:
- The Irish Times
- Article date:
- July 4, 2009
CopyrightCopyright 2009 The Irish Times. Provided by ProQuest LLC. (Hide copyright information)
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IN THE COURTS: A Cork-based specialist kitchen and bathroom
company grew fast but wasn't profitable, writes COLM KEENA .
PATRICK O'CALLAGHAN, former managing director of Delta Homes
(Ireland) Ltd and the 2004 Ernst Young Emerging Entrepreneur of the
Year, was in court yesterday seeking protection under the Bankruptcy
Act.
Delta, a Cork-based company incorporated in 2002 to manufacture
specialist kitchen and bathroom units, grew fast, with a turnover of
about [euro]17 million by 2005.
It went into receivership in September 2006.
When Gary McCarthy, for O'Callaghan, yesterday referred to Delta
as a profitable company, Ms Justice Elizabeth Dunne pulled him up.
It wasn't a profitable company, ...