
Liquidator appointed over Killarney Brewing and Distilling
James Anderson of Deloitte was appointed as the liquidator by the
High Court
on Monday. The move came after a disagreement between the Revenue Commissioners and the KBD about who would be appointed,
KBD had sought for Mr Anderson, who was already the existing examiner for the business to be appointed as the liquidator over the company in a High Court hearing on Friday.
On Friday, barrister Sally O'Neill, for the Revenue Commissioners, disputed the appointment of the existing examiner, petitioning the court to appoint Myles Kirby of Kirby Healy Chartered Accountants as the examiner instead.
READ MORE
A decision on the case had been postponed until Monday by Mr Justice Michael Quinn after Revenue opposed the company's choice of liquidator.
Ms O'Neill had argued that Revenue should be heard in the decision as to who would be appointed as the liquidator, pointing to precedent set during the liquidation of Star Elm Frames Ltd.
Taking a period for deliberation, Mr Justice Michael Quinn said Star Elms was a 'very helpful case but a very different case' and noted some differences between the two situations.
He noted the significance of Revenue's debt, which he said stood at €1.3 million and accounted for as much as 90 per cent of the debt in some of the companies, the fact they are acting for the public good, and that they were the only unsecured creditor to have become involved in the process.
Mr Justice Quinn said the rest of the companies' debts stood above €22 million.
He said it was 'quite common' for examiners to be appointed as liquidators, noting that such appointments 'should not be presumed' but said there are 'efficiencies' in doing so in large cases.
Mr Justice Quinn said he recognised there were 'efficiencies' in this case in Mr Anderson continuing his involvement, and appointed the company's preferred choice of liquidator.
The business has been under examinership since mid-April but did not secure the investment necessary to keep the business afloat in time.
The distillery's staff were told that operations would cease on Thursday in advance of the hearing.
Founded by local businessmen Tim O'Donoghue and Paul Sheahan in 2013, the parent company of the group has not filed accounts since 2023.
In its most recent filings with the Companies Registration Office, the company reported a turnover of more than €2 million for 2022. The business lost €1.61 million in 2022 and had accumulated losses of €4.15 million.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Irish Examiner
26 minutes ago
- Irish Examiner
Killarney brewing company collapse: covid cost overruns and whiskey tariffs blamed
The Killarney Brewing and Distilling Company which went into liquidation this week had dozens of creditors when it entered the examinership process in April, with more than €8m owed. The company confirmed the unsuccessful conclusion of its examinership process on Tuesday, with more than 50 jobs impacted by the brewery ceasing operations. The company premises included the plush multi-million euro brewery, whiskey distillery, and visitor centre overlooking the lakes of Killarney in Fossa. The independent expert's report filed as part of a petition to the High Court in April showed Killarney Brewing Company had a creditors' listing topping €8m. Included in the list of creditors of the brewing company were Kerry County Council, which was owed an outstanding amount of just over €108,000, and the Revenue Commissioners, who were owed €143,400. The report said the financial difficulties of the company predominantly arose from delays and the significant overspend on the construction of the company's Fossa facility, which went through an extensive renovation in 2021 and 2024, which it said impacted the company's profitability and cash flow. The estimated cost overrun caused by pandemic-related issues was around €8m, the report said The Killarney Brewing and Distilling company in Fossa, Killarney County Kerry where a liquidator was appointed on Monday. Picture: Don MacMonagle 'As all the hospitality businesses were predominantly closed during the peak pandemic years and completion of the Fossa unit was delayed, significant trading losses were incurred as investment monies raised, which were forecasted to assist with early years working capital, were utilised on the construction-related overspend,' the report said. To address the significant construction overrun costs and aid working capital, the group borrowed around €4.4m from a number of sources in December 2022, the report also noted. Speaking this week, the company said high tariffs on Irish whiskey exports to the US and wider economic uncertainty further hurt the business and had compounded previous challenges arising from the pandemic and ongoing global tensions. The Killarney Brewing and Distilling company in Fossa, Killarney County Kerry where a liquidator was appointed on Monday. "Like many in the drinks manufacturing industry, KBD has faced significant and sustained challenges in recent years, stemming from the lasting effects of the pandemic, delays in opening our state-of-the-art distillery in Fossa, global supply chain disruptions, rising input costs, and ongoing geopolitical and trading pressures," the brewery said. "More recently, high tariffs on Irish whiskey exports to the US and wider economic uncertainty have further impacted the business." Earlier this year, the company had reached a preliminary agreement to merge with a US-based strategic partner, but the partner ultimately chose not to proceed. In response, KBD entered the examinership process in the hope of securing new investment to protect jobs and stabilise operations for the long term. A spokesperson for the liquidator declined to comment. Read More Killarney Brewing & Distilling confirms unsuccessful end of examinership process


Irish Independent
an hour ago
- Irish Independent
Accounting firm with Cork base to create 400 jobs as revenues sore
Ifac has four offices across the county in Bandon, Blarney, Mallow and Skibbereen, and is celebrating 50 years in operation this year. The firm has 30 offices scattered across Ireland, supporting over 30,000 clients. Through their services, they support 18,000 producers, 3,000 clients in the agri-food sector, and 7,000 SMEs with a full range of professional services, including accounting, tax, audit, corporate finance, consultancy, corporate recovery, payroll, financial planning, company secretarial, and business valuations. With revenues expected to hit €50 million, Ifac has transformed from its humble beginnings to become a top ten accountancy and advisory firm. The firm began as a specialist advisor to Irish farmers and has seen remarkable growth, from undergoing a successful rebrand in 2018 to expanding its services in farming, food, agri-business, the SME space, tax, and audit, thereby meeting and exceeding client needs. Founding chair Donal Cashman said the firm is investing in the communities they operate in. 'While the firm will continue to respect its heritage, it will continue to grow with Irish farmers and producers, alongside expanding into new markets. 'Its focus today is very much on continuous improvement, most recently marked by the launch of a new specialist team for mid to large SMEs. 'And as Ifac enters its next chapter, its mission remains unchanged: to help clients succeed on the farm, in business, and beyond,' Mr Cashman said.


Irish Times
an hour ago
- Irish Times
New legal aid support system recommended by review group
A new support system for civil legal aid has been recommended in the final report by an independent review group. However, before that more immediate reforms including raising the disposable income eligibility threshold for civil legal aid from €18,000 to €23,500 as soon as possible has been called for. Two reports from a majority and minority of the review body, set up in 2022, come in the wake of a warning from Legal Aid Board chief executive Joan Crawford that the Department of Justice lacks the resources to meet the mounting demands on its services. The reports were submitted to the Minister for Justice Jim O'Callaghan in April, who acknowledged the review group did not reach consensus on all matters. The minority report maintains the recommendations of the majority fail to meaningfully address the 'crisis' in Ireland's system of public legal assistance and, even if implemented, will mean people on a minimum or living wage are likely to remain ineligible for civil legal aid. The majority of the group recommend that the figure used to calculate the current income portion of a contribution is revised upwards from the current level of €11,500 to €14,500. The majority also recommended that users with available income of less than €14,500 should pay no contribution. A minority view within the group was that contributions should be tapered throughout the income distribution to effectively target available support with measures to avoid hardship where necessary. The review group also recommended that a Legal Aid Oversight Body be established to oversee the delivery of the services supported by the future civil legal aid support system. This would ensure 'quality, consistency, availability and adaptability of the system to meet the legal needs of the Irish public over time'. It envisages that services under the future system should encompass more than the legal representation or legal advice services on offer through the Civil Legal Aid Scheme. Mr O'Callaghan said there was 'much to be considered' in the work undertaken by the review group. 'There are both short-term issues that require attention and long-term recommendations that need further consideration and engagement,' he said. 'I will now give consideration to the recommendations with my officials and I will bring proposals for reform to Government in due course.' Chair of the review group, retired Chief Justice Frank Clarke, said it marked the first comprehensive examination of the civil legal aid scheme in nearly 50 years. 'Setting out a principle-based, strategic framework for a modern system of civil legal aid in Ireland, its recommendations offer a clear roadmap to transform how the State supports access to justice,' he said. 'The radical reforms proposed represent a critical shift in how legal support is understood and delivered, laying the foundations for a more responsive and user-focused system for the future.'