A receiver has been appointed by Zurich Bank to the company which operated ‘Residence’, the private members’ club on St Stephen’s Green Dublin, after the High Court refused to approve the appointment of an Examiner.

Mr Justice Peter Kelly ordered that the judgment and papers in the case be referred to the Director of Corporate Enforcement.

The Judge was strongly critical of a failure on the part of the company to pay PAYE and PRSI monies collected from employees, to the Revenue Commissioners.

The judge also said he was ‘extremely sceptical’ about  positive opinions by an independent accountant and the interim examiner of the prospects for survival of the club, which has liabilities of more than €4m.

On the day following the Residence company receivership, Auldcarn Ltd., another company owned by restaurateurs Christian and Simon Stokes went  into liquidation with debts of €2.3m., including a tax bill of almost €1m.. A statement of affairs shows the company has no realisable assets from which the debts can be paid.

Jim Luby of McStay Luby Chartered Accountants was appointed by the Revenue Commissioners at a meeting of creditors as liquidator to Auldcarn, the company which formerly owned the Clarendon Inn.

According to the statement of affairs, Auldcarn, whose sole business was the Clarendon Inn pub, which ceased trading under the management of the Stokes brothers in early 2008, has debts of €2.33m. 

The Clarendon Inn is now under new management..

The Revenue Commissioners, who are owed almost €1m. are the largest creditor of Auldcarn.  Another creditor is Zarament Ltd., a company owned by Bernard McNamara.