A clothing group, which is in liquidation, was allegedly stripped by a shadow director of more than €1m to buy two luxury holiday villas in Thailand while it was in a precarious financial position, the High Court has heard.
The Born Clothing group of companies, which had 15 shops around the country, went into liquidation with debts of €7.82m including €2.2m owed to Revenue.
John Curley, who the court heard was previously life partner of Born’s sole director, Joan Lynch, claimed the company entered into a voluntary co-investment arrangement with him to buy the Thai properties and it was “not a passive victim” of this.
The properties were put in his sole name and he claimed he invested €220,000 and was entitled to a 30% share in…