Alan Hynes denies being behind the collapse of three companies

Businessman Alan Hynes denied in the High Court that he was the cause of the disappearance of three companies at the center of a liquidator’s efforts to recover assets and impose penalties on the management of the companies.

Mr Hynes testified in connection with Liquidator Myles Kirby’s continuing action against him, his cousin Frank, wife of Frank Martina, UK-based Alan’s brother-in-law Dr Adrian O’Reilly and a company called Tuskar Investment Group, which is owned by Dr. O’Reilly.

The Three Hyneses, who deny a number of claims, including trying to defeat creditors, are representing themselves. Dr O’Reilly, who has denied any wrongdoing in writing, is not participating in the trial before Judge Michael Quinn.

Mr. Kirby is the liquidator of Tuskar Property Holdings, of which Alan was a director until 2009, when it became wholly owned by Dr. O’Reilly. Mr. Kirby is also the liquidator of Hynes Jewelers Wexford Ltd and JW Fashions Ltd.

Hynes Jewelers lost their premises in 2016 due to rent arrears. JW Fashions, who also operated as a jeweler, was then established at another location just down the road from the old Hynes Jewelers premises on Main Street, Wexford. The liquidator said JW Fashions was a “phoenix-like entity”.

Alan Hynes, testifying by video link, disputed claims he was the cause of death, saying: “I think the opposite is true.”

He challenged the amount of a temporary freezing order of 2.46 million euros on the company’s assets made last year.

Claims litigation

He denied an allegation that the books and records were not kept. He argued that those records, which were taken in 2016 when Hynes Jewelers premises in Main Street, Wexford, were taken over for rent arrears, were never returned.

He said that although he helped Frank with financial matters, he never presented himself as a director when he was disqualified or banned from doing so.

He said he had gone to great lengths to engage with Mr Kirby but refused to do so.

He insisted that if he could engage in a dialogue with Mr Kirby, he could resolve many issues, including the liquidator’s complaints about payments for personal matters.

He took issue with the evidence given by his cousin Fiona Hynes, director of Hynes Jewelers and JW Fashions, that she never consented to the transfer of her shares from Hynes Jewelers to Tuskar Property.

He said he was also disappointed with the testimony of Colm Sugrue, a former manager of Tuskar Property, who told the court that he was completely unaware of the business accounts filed in his name, that he never signed, until they were brought to its attention by the liquidator.

He said he had done “everything I know” to try to settle this matter without the need for a trial.

Martina Hynes said the court records were kept in full and if returned they would show everything was done over the edge and neither she nor Frank took any personal money for themselves .


She didn’t know where the liquidator got the numbers from, but she and her husband never spent that money on themselves, she said.

On cross-examination by David Whelan, for Mr Kirby, she agreed that almost € 800,000 from the company was transferred to her and Frank’s personal account between January 2016 and January 2018, but she said that was supposed to be short term and all money has been returned to the company.

She admitted in hindsight that it shouldn’t have been put in the personal account but that it was never for the purpose of hiding anything.

Mr Kirby, who was called back to testify before Alan Hynes ‘cross-examination, said some of Alan Hynes’ claims were extraordinary and unsupported by documents. This included his claim that he didn’t know, after Tuskar Property came out of receivership, and that the company was insolvent when it actually signed audited accounts showing it had a deficit of 1.1. million euros.

Alan Hynes had admitted only managing the affairs of the company as an employee and did so “under the mask of TPH (Tuskar Property) at a time when he was disqualified”, he said. .

Far from cooperating, Alan Hynes had done “everything in his power to obscure and frustrate,” he said.

Frank and Martina’s claims about the inability to obtain the books and records were simply extraordinary when it was in their power, and when they had sufficient company funds in the joint bank account, of s ‘Pay obligations to their landlord over the rent arrears, he said.

The case continues.

Comments are closed.