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Thread: Haughey's Celtic Helicopters finally bites the dust

  1. #1
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    Default Haughey's Celtic Helicopters finally bites the dust

    The IT reports that a liquidator has been appointed to Celtic Helicopters. There ends the story of a company which somehow stayed aloft miraculously thorough many tribulations since it was founded in 1985 by Ciaran Haughey and his father's personal pilot John Barnicle.
    The original capital to set up the company was put together by John Traynor who was later found to have channelled 50k of the sum through the notorious Ansbacher accounts. Later in the nineties when the company was in trouble Traynor raised £290,000 from a variety of Fianna Fail supporting businessmen.
    The Mahon Tribunal found that Charlie Haughey himself had used Celtic Helicopters as a mechanism to transfer up to £600,000 to use for purposes unrelated to the firm.
    In 2006 Celtic Helicopters settled for €700,000 with the Revenue *Commissioners after an investigation found that it had under declared VAT.
    Ciaran Haughey didn't seem to have any personal money issues as he bought a New York apartment worth $765,000 with a loan from Anglo in 2007.
    In January it was revealed by the IMOS that Medeva Properties Ltd, owned by Haughey and Barnicle, has an outstanding loan of €3m owing to Irish Nationwide which is now in NAMA.
    I wonder how hard NAMA and IRBC are chasing that one?

    http://www.irishtimes.com/newspaper/...321715394.html
    http://www.dailymail.co.uk/news/arti...ends-NAMA.html

  2. #2
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    Default Re: Haughey's Celtic Helicopters finally bites the dust

    Aviation company or slush fund? YOU decide!

  3. #3
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    Default Maidir Le: Haughey's Celtic Helicopters finally bites the dust

    Everything that is rotten rolled into one story

  4. #4
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    Default Re: Haughey's Celtic Helicopters finally bites the dust

    This company was very small fry for Charlie, probably very disappointed with Ciaran, despite funds being thrown at him, could not make a success out of it.

    Rumour has it that it was Richard Barrett of Treasury fame was the apple of Charlie's eye and his friendship with his sons led to a lot deals probably not come to light yet, Treasury were always there to buy bits of Kinsealy, wonder if they also did the Ben Dunne trick.

    Is Treasury the Govt's largest landlord, Bertie stepped in to the link role when Charlie departed, would have known all the strokes.

  5. #5
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    Default Re: Haughey's Celtic Helicopters finally bites the dust

    Quote Originally Posted by PaddyJoe View Post
    The IT reports that a liquidator has been appointed to Celtic Helicopters. There ends the story of a company which somehow stayed aloft miraculously thorough many tribulations since it was founded in 1985 by Ciaran Haughey and his father's personal pilot John Barnicle.
    The original capital to set up the company was put together by John Traynor who was later found to have channelled 50k of the sum through the notorious Ansbacher accounts. Later in the nineties when the company was in trouble Traynor raised £290,000 from a variety of Fianna Fail supporting businessmen.
    The Mahon Tribunal found that Charlie Haughey himself had used Celtic Helicopters as a mechanism to transfer up to £600,000 to use for purposes unrelated to the firm.
    In 2006 Celtic Helicopters settled for €700,000 with the Revenue *Commissioners after an investigation found that it had under declared VAT.
    Ciaran Haughey didn't seem to have any personal money issues as he bought a New York apartment worth $765,000 with a loan from Anglo in 2007.
    In January it was revealed by the IMOS that Medeva Properties Ltd, owned by Haughey and Barnicle, has an outstanding loan of €3m owing to Irish Nationwide which is now in NAMA.
    I wonder how hard NAMA and IRBC are chasing that one?

    http://www.irishtimes.com/newspaper/...321715394.html
    http://www.dailymail.co.uk/news/arti...ends-NAMA.html
    Ironic, when you consider that Ansbacher became part of the Anglo Irish Bank.

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