One can only wonder what’s going on at McAleer & Rushe Group when these two images are viewed side by side – and coupled with the fact that, according to records at Companies House, McAleer & Rushe Group accounts are now three months overdue. One week or one month late filing might be reasonable – but for a company whose loans are now sitting with NAMA in Ireland and whose performance reported in it’s 2010 figures points to a shaky business – three months is an awful long time.
The question is: Is the FD asleep on the job or are liabilities mounting up to such a level that the company is simply no longer viable? In the worse case scenario – where would a collapse of the business leave the 2-14 Baker Street (10 Portman Square) project? Could British Land end up with NAMA as a development partner?
Information at Companies House on 30 March for McAleer & Rushe Group:
Company No. NI063407 Status: Active
Date of registration: 05/03/2007
Accounting Reference Date: 31/03 Last Accounts Made Up To: 31/03/2010 (GROUP) Next Accounts Due: 31/12/2011 OVERDUE Last Return Made Up To: 31/03/2011 Next Return Due: 28/04/2012
- A return to the mystery on Baker Street as Northern Irish property company confirms loans have transferred to NAMA (namawinelake.wordpress.com)
- 10 Portman Square | W1: Can a Name Change Clean up a Dirty Image? (10portmansquare.wordpress.com)
- Plundering Ireland? – Disposing NAMA Assets at 50%+ Below Value – McAleer & Rushe, British Land, Bank of Ireland and NAMA (2to14bakerstreet.wordpress.com)
- 10 Portman Square | W1: Can a Name Name Change Clean up a DIrty Image? (2to14bakerstreet.wordpress.com)
- Q&A: 2-14 Baker Street, British Land and McAleer & Rushe (2to14bakerstreet.wordpress.com)
- World War III Hits Westminster at 10 Portman Square (2to14bakerstreet.wordpress.com)