End of era as liquidator appointed to restaurant favoured by the stars
A liquIdator has been appointed by the High Court to two companies operating Dublin restaurant Dobbins after efforts to finalise an investment agreement failed
Situated on Stephen's Lane, Dobbins was once a favoured hangout of celebrities and hosted Prince Charles and his wife, Camilla, during their three-day visit here last May.
It also prepared sumptuous meals for former US President Bill Clinton during two of his trips to Ireland, in December 2000 and September 1998.
The High Court was told yesterday how efforts by examiner Kieran Wallace to secure an investor for the Dobbins companies had failed.
Rossa Fanning, for Mr Wall-ace, said there had been talks with KBC Bank, Dobbins' biggest creditor, after a preferred investor had been selected.
However, no investment agreement had been reached.
In the circumstances, counsel said Mr Wallace wished to be discharged as examiner to Dobbins Holding Company Ltd and Dobbins Wine Bistro Ltd.
There was also agreement that a liquidator could be app- ointed to those entities whose directors - Gary Flynn, of Font-hill Court, and Patrick Walsh, of Templeroan, both Rathfarnham - were previously the restaurant manager and head chef at Dobbins.
On the application of Gavin Simons, solicitor for the Dobbins companies, Mr Justice Brian McGovern agreed to discharge Mr Wallace as examiner of the Dobbins companies and to appoint Alan O'Leary of KPMG as liquidator.
Andrew Fitzpatrick, for KBC Bank, said it has appointed a receiver over the Dobbins companies and is anxious that the leasehold property occupied by the restaurant be surrendered to the bank as soon as possible.
The court previously heard that the Dobbins and Beckett's Hotel companies - Camrue Holding Company Ltd and Camrue Catering Ltd - had a loyal customer base, but the fact that their assets were acquired in the Celtic Tiger years had left them with a high level of debt.
However, it is expected that a survival scheme prepared for two other companies operating Beckett's Hotel in Leixlip will be put before the court for approval later this week.
An investment agreement has been negotiated and will be put before creditors today. If supported, it will then be put before the High Court.
The Revenue has indicated it will oppose the survival scheme proposed, the High Court heard.
All four companies, which employ 60 people, secured court protection last June foll- owing cash flow difficulties.