Ballyseedy Restaurant Ltd, whose chief executive Nathan McDonnell faces charges over Ireland’s largest ever seizure of crystal meth earlier this year, has been wound up by the High Court.
The court heard there were debts of over €1 million to Revenue.
Ms Justice Miriam O’Regan made the order winding up the company with a registered address in Tralee, Co Kerry, after hearing a petition on behalf of Revenue before the High Court.
Counsel for Revenue told the court that the company was incorporated in 2012 and had registered offices at Ballyseedy Home & Garden, Caherbreagh, Tralee, Co Kerr.
Counsel said the debt to Revenue was substantial and a demand for payment was made on July 9th last.
She said there was €900,000 unpaid in fiduciary tax with €183,000 interest. She said it had not been paid.
Ms Justice O’Regan made the order winding up the company and appointed Myles Kirby as liquidator. Nathan McDonnell and Bernadette Falvey, who the court heard were directors of the company, were also ordered to each file a statement of affairs.
A newspaper notice posted at the end of September had told outstanding creditors of Ballyseedy Restaurant Ltd, they could attend the High Court if they wished to make a submission on the petition to wind up the company.
On Monday, when the court asked if there were any creditors in court, there was no answer and Counsel for Revenue said she did not anticipate any opposition.
The well-known Kerry businessman from Ballyroe, Tralee, pleaded guilty last month to charges in connection with the biggest crystal meth seizure in the history of the State.
Nathan McDonnell, former chief executive of Ballyseedy Restaurant Ltd in Tralee, pleaded guilty to drug importation into the Port of Cork and to assisting or facilitating a criminal gang to import methamphetamine — more commonly known as crystal meth.
Mr McDonnell was further remanded in custody for sentencing.
In the wake of his arrest, Ballyseedy Restaurant Ltd wrote to suppliers saying it was “unable” to pay any outstanding bills.
Suppliers were informed “with a heavy heart” that Ballyseedy Restaurant Ltd would cease trading from Sunday “due to circumstances beyond our control," in a letter sent to them this week and published by Radio Kerry.
The business would be transferred to Smaash Burger Limited, the letter said.
“However, amidst this transition, I regret to inform you that we will be unable to carry over any outstanding balances from Ballyseedy Restaurant Limited to Smaash Burger Ltd,” it said.
“We understand the impact the decision may have, and I sincerely apologise for any inconvenience caused.”
In August, Mr O'Donnell was granted free legal aid by the Special Criminal Court.
His co-accused James Leen, 41, of Pilgrim Hill, Kilmorna, Listowel, Co Kerry, faces five charges.
