A liquidator has been appointed to Meathamatic, a company building a housing development in Co Meath, after a meeting of creditors in Dublin.
Meathamatic agreed to the sale of 14 of 16 houses in the Ringfort development in Rathmolyon to families in 2021 for around €275,000 each.
The prospective buyers paid deposits of nearly €30,000 to the company and entered into contracts to buy the homes.
However, by 2023, the surge in construction costs had left an estimated gap of around €1 million between the sale prices of the homes and the cost to complete the estate.
The decision to liquidate the company puts deposits paid by prospective buyers for the homes at risk, and reduces their chances of being able to buy…