Prospective home owners on a Rathmolyon housing estate have been hit with a further hammer blow.
Last month, they discovered the developer of the Ringfort estate Meathamatic Limited, had run into financial difficulty, when solicitors for the firm asked if they would be willing to pay a further €60,000 on top of the agreed sale price to finish their homes.
Newspaper reports are suggesting that Spudmuckers, a Wexford investment company backed by Joe Elias, a director of Meathamatic, has appointed accountants Ken Fennell and Kieran Wallace of Interpath Advisory as receivers.
It says the company is Meathamatic’s largest creditor after issuing a loan in June this year.
The company is apparently claiming it’s owed €4.5 million.
However FG Councillor, Joe Fox, has expressed concern over future plans for the estate.
He told Meath Live, ‘ This is not a straightforward receivership as the same names are appearing as directors of both companies which makes it more complicated to resolve.
‘Another thing that has been perhaps overlooked is that some buyers have paid a few bob upfront for upgrades, better kitchens better fireplaces and stuff like that so they kind of face a double whammy.
‘It’s getting very messy at the moment and if this goes legal I am sure any court in the land will vindicate the buyers.’
