Liam Carroll: loans

Liam Carroll's Ronnie Rentals recorded an impairment of €168.1m on monies it loaned to subsidiaries that bought publicly quoted shares in the year ended 30 September 2008. The impairment amount was related to investments made by other group companies in Greencore and ICG.

Ronnie Rentals, which had been threatened with strike off, increased its allotted, called up and fully paid equity share capital from €141.1m to €541.74m during the financial year, which allowed it boost shareholders' funds to €374m from €114m. The additional shares were acquired by Danninger, which is in receivership, and Morston Investment, which was part of Carroll's Zoe Group.

Meanwhile, Declan Taite of FGS was last week appointed as a receiver by First Active to Lowe Taverns. The company, which was controlled by Carroll, was at the centre of a row between the developer and rival Noel Smyth who was planning to develop an extension to The Square shopping centre in Tallaght in west Dublin. Earlier this year the High Court dismissed a €140m damages claim by Smyth's company Redfern against three developers – Larry O'Mahony, Thomas McFeely and Carroll – in relation to the planned expansion. O'Mahony and McFeely sold Lowe to Carroll.