Problems engulf Spain property company

LAST UPDATED: 13 Sep, 2010 @ 16:18
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Problems engulf Spain property company

A MALIGNED Costa del Sol property company is allegedly winding up yet another branch of its business.

MacAnthony Realty International – founded by beleaguered property magnate Darragh MacAnthony – is closing one of its overseas offshoots.

According to the Sunday Times the directors of MacAnthony Realty International Ireland (MRII) have agreed “in principal” to the liquidation.

MRII allegedly made loses of 2.87m euros on sales of 54m euros in 2007.

The company was not satisfied it could recover its 5.3m euro trade debt and cited the failure of suppliers as one of its biggest problems.

Meanwhile, MRI Overseas Property Limited has also gone into voluntary liquidation, despite the company insisting it was a UK subsidiary “that we never used”.

Also being wound up is MRI TV ltd, owing 300,000 euros, as well as MRI Media, with debts of 560,000 euros.

MacAnthony, chairman of Peterborough United FC, saw his team relegated this season, finishing bottom of the English Championship.

2 COMMENTS

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  1. When will people begin to see what MacAnthony and his sidekick Pickering are up to.
    Visit the MRI Support Group website and join the forum if you are a victim of their behavior and want to know what is happening to your investments.

  2. Another perfectly honest man caught up the Spanish property deboggle!

    He does’nt look fishy does he?

    I’m starting to think some of these guys could teach Spanish crooks a thing or two!

    Amazing though that they aways have money for high priced suits (lawyers) but they are always destitute when asked to pay back their victims!

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