Conor Clarkson

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Cantoris

At the Start
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Jan 7, 2008
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Sad to see the Gold Cup winning owners in dire straits. I saw him at the Festival in March and he was pretty glum in the nightclub.

IRISH NATIONWIDE has appointed receivers to four property development companies and personal assets owned by businessman Conor Clarkson in a bid to recover debts of €40 million.
The building society has appointed Padraic Monaghan of KPMG and John Hansen of the accountancy firm’s Belfast office joint receivers of Irish company Ardenhill Property, which developed apartments in Wigan and Manchester in the UK.
Mr Monaghan has also been appointed to another property company called Surtan, while Mr Hansen has been appointed to two UK companies, Newbury GB Developments and Goodwood GB.
The firms developed about 70 apartments which will be sold to recover the lender’s debts.
Mr Monaghan has also been appointed receiver over a property in Aherlow, Co Tipperary.
Mr Clarkson is believed to owe the building society €15 million in a personal capacity, while his companies owe about €25 million.
Mr Clarkson declined to comment. A spokesman for the building society said it had no comment to make on the case.
Mr Clarkson is better-known as the owner of racehorse Kicking King, winner of the 2005 Cheltenham Gold Cup. The horse generating more than €950,000 in prize money. Mr Clarkson has sold and let property in the Republic, the UK, the United States, Spain and Dubai through his Dublin business, Clarkson Financial Property.
The most recent accounts for Ardenhill shows the company had stocks valued at €7.4 million and cash of €921,000 at July 2007. The firm had retained profits of €284,000 at the end of the year.
Surtan had stocks of €2 million at July 2007, accounts show.
Mr Clarkson was a 20 per cent shareholder in the Shannon-based charter airline, Eirjet, which was wound up in 2006.
Irish Nationwide has taken a more proactive approach to recover property debts since the departure of chief executive Michael Fingleton last April.
 
There is a lot of pain being felt at nearly every level of Irish society.Who will be the first billionaire to fall over.
 
It's extremely sad that someone who built up such a fine life for himself (and presumably his family) should see it crumble like this, as it is for those employees of his who are now losing their jobs and some who are, quite possibly, also losing their property - their homes.
 
Am contemplating having a day at Galway,any recommendations of which day as I would imagine Plate day is heaving.
 
Arkwright said:
Am contemplating having a day at Galway,any recommendations of which day as I would imagine Plate day is heaving.
Click to expand...

Stay away from the Plate and Hurdle day....just heaving and to be honest so is the rest of the week. Monday and Tuesday evening meetings are very enjoyable.
 
LUKE said:
There is a lot of pain being felt at nearly every level of Irish society.Who will be the first billionaire to fall over.
Click to expand...

Liam Carroll moved into pole position yesterday-the story of a man who wasn't happy with 1.1 billion.
 
I'll be there from Thursday to Sunday; hard to take the racing especially seriously but its a great laugh.

Pity about Clarkson; alot of people hurting, noticed Derek Quinlan stepped down the other week. Probably had it in mind for a while, but they've taken a walloping.
 
ANGLO IRISH Bank has secured an €800,000-plus judgment against businessman Conor Clarkson in relation to a property investment in England.
Mr Clarkson’s Ardenhill Properties, which developed 70 apartments in Wigan, greater Manchester, has been in receivership since July with debts of €40 million.
Anglo Irish Property Lending recently won a High Court judgment for €868,410 against Mr Clarkson. The debt, originally denominated in sterling, relates to the Wigan development.
Company documents show that State-owned Anglo Irish Bank was one of a number of banks that financed the apartment development.
In July, Irish Nationwide appointed Padraic Monaghan of KPMG and John Hansen of the accountancy firm’s Belfast office as joint receivers of Irish-registered Ardenhill.
At the same time, Mr Monaghan was appointed to another property company called Surtan, while the bank appointed Mr Hansen to two UK companies, Newbury GB Developments and Goodwood GB.
The receivers were appointed at the invitation of the companies themselves, which is a normal practice where businesses with secured creditors anticipate difficulty in meeting their liabilities.
The receivers intend selling the properties to repay the building society loans. It is understood the apartments are selling well and the companies involved are optimistic the debts can be paid off.
Mr Clarkson is believed to owe the building society €15 million in a personal capacity, while his companies owe about €25 million.
His Dublin-based company, Clarkson Financial Property, sold and let properties in Ireland, Britain, the US and other locations.
 
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