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Eden College closed with debts of €1.4m

AN international school in Dublin closed owing €1.4m — including almost half-a-million to state bodies, its directors estimate.

Eden College (inset), on Burgh Quay in Dublin 2, shut down suddenly last month, leaving 1,200 students in the lurch.

At a creditors’ meeting held in Chapelizod, director Fakir Hossain denied he “trousered” fees from students prior to the closure.

It was outlined that €1,023,211 was owed to unsecured creditors and €339,920 to preferential creditors.

Some €57,933 was due to students, according to the directors’ estimations.

This was challenged by Kevin Barry, a solicitor for 216 students, who said they alone were owed €337,000.

challenged

The Irish Aviation Authority (IAA), Dublin City 
Council and the Revenue 
Commissioners were listed as being owed €303,000, 
€122,097 and €60,166, 
respectively.

The IAA was the landlord of the Burgh Quay premises, while the council is owed commercial rates.

Former teachers were due €157,657.

Dave Moore of the Irish Council for International Students (ICOS) said the details will be challenged in the High Court next week.

Mr Hossain attended the meeting in the West 
County Hotel, but Mr Moore expressed frustration that more information was not forthcoming.

“I think the mood in the room was that the process was very unsatisfactory,” he said.

Chill Out Ventures Ltd, of which Mr Hossain is a director, was owed €322,750.

Money totalling €71,600 was due to Mr Hossain for a director loan’.

Lawyers questioned why €800,000 was 
paid out of Eden in 2012 to another company owned by Mr Hossain.

hnews@herald.ie


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