herald

Monday 20 August 2018

Creditors' fury at Citywest showdown

THERE were angry scenes at a Citywest creditors meeting to discuss the future of Jim Mansfield's bankrupt hotel company, HSS.

The company held a meeting with a group of more than 100 creditors yesterday morning.

A witness described it as being "like a bloodbath", with one of the companies, which was involved in building the conference centre, owed around €25m.

Some 418 unsecured creditors have been left out of pocket after the company went into receivership last July, reportedly owing €180m to the now-defunct Bank of Scotland Ireland.

The meeting was chaired by Tony Mansfield who is the co-director of HSS, which trades as Citywest Hotel. A petition was made last month to wind up the ailing company and it's understood a liquidator may now be appointed.

"There was an awful lot of anger in the room. It was due to start at 9.30am but it didn't start until after 10am and a lot of people were upset by that," the source said.





Annoyed

"They were also annoyed that Jim Mansfield wasn't here, as a lot of people would have brokered the deals with him and they felt he should have been there to take responsibility for what happened.

"The list of creditors wasn't up to date -- there was one man there owed €50,000 and he wasn't even on the list. At one stage a woman got up and addressed Tony Mansfield directly, saying how she was about to lose her business and her home now because of this.

"She asked him how he could ever sleep at night after what happened. There was so much bad feeling in the room."

At another point in the meeting a supplier asked had HSS ever paid its debts within the usual 28-day deadline. Fellow creditors in the hall at Citywest Hotel shouted "No, no" in response.

A Citywest spokesperson was not available to comment when contacted by the Herald.

The business hit the wall last summer with Martin Ferris appointed as receiver over HSS.

mfinn@herald.ie

Promoted articles

Entertainment News