THE FALLOUT following the collapse of the construction sector continues
to plague Westlife's Shane Filan and his brother Finbarr.
Fresh High Court action against the pair was issued last week by Sligo
company Trio Foods. This follows actions by Bank of Ireland and Ulster
Bank. See SligoToday.ie 12/4/12
This move is not against the brother's troubled Shafin Developments but relates to another company, The Nalif Partnership.
Trio Foods formerly had a depot on a site in Ballinode, opposite IT
Sligo, on which Shane and Finbarr Filan (trading as The Nalif
Partnership) had planned a €5m development.
The plans, approved by Sligo Borough Council and An Bórd Pleanna last
summer, despite objections by local residents and a local business, was
for student accommodation (five two-bed and twelve student studio
apartments), a supermarket, two take-away restaurants, medical centre,
offices and a coffee shop.
Left. Shane and Finbarr Filan in happier times
A major supermarket chain had expressed interested in becoming the
anchor tenant. 'High Street' fast food franchise outlets along with a
pharmacy group, bookmakers and butchers were also interested in renting
the retail outlets.
The catchment area, with over 6,000 students, the nearby Abbott Ireland facility, several housing estates and sited on the busy Manorhamilton and
Dromahair thoroughfare was appealing to several more retailers.
Shane Filan, currently living in the UK, is anxiously awaiting the
decision of a British court which he hopes will grant him protection
through a Individual Voluntary Arrangement (IVA) and allow him to put in
place a five-year plan to discharge his debts.
The largest creditor, Bank of Ireland was last joined by Ulster Bank
when it petitioned the High Court to have a receiver from the
international accounting firm KPMG appointed to Shaefin Developments.
The bank has already placed and registered two charges on Shafin's
accounts against loans carrying personal guarantees by the singer.
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