Oireachtas Joint and Select Committees

Wednesday, 24 May 2017

Joint Oireachtas Committee on Transport, Tourism and Sport

Pilot Training College of Ireland: Discussion

1:30 pm

Mr. Brian Kealy:

Yes, the parent company. It owned the planes but basically got the funds from PTC to do it. When Shemburn was also put into liquidation - the liquidator of Shemburn was Kieran Wallace of KPMG – essentially it tried to get the planes sold but issues arose over registration rights and ownership. The planes were left out in the weather and as members are aware, the weather in Ireland is not a good thing and therefore they sold for a lot less. The main director of PTC and Shemburn effectively claimed that he had a charge over the assets and took the most valuable assets on the basis that he had a right to them, even though nothing in that regard was mentioned in the accounts. Basically, there is no money.

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