Tuskar Property Holdings Ltd [In Liquidation] and Ors v Companies Act 2014 (Approved) [2026] IEHC 97 (19 February 2026)

Tuskar Property Holdings Ltd [In Liquidation] and Ors v Companies Act 2014 (Approved) [2026] IEHC 97 (19 February 2026)

The first respondent was found to have acted as a de facto director and to have knowingly participated in fraudulent and reckless trading, failed to keep adequate accounting records, misapplied company property, and committed misfeasance. These findings justified the imposition of personal liability for company debts, orders for repayment, and disqualification from acting as a director or officer. The court found no valid defence or substantive submissions from the respondents and perfected the order accordingly.

Citation
[2026] IEHC 97
Parties
Applicant: Myles Kirby; First Respondent: Alan Hynes; Second Respondent: Frank Hynes; Third Respondent: Adrian O'Reilly; Fourth Respondent: Tuskar Investment Group Limited; Fifth Respondent: Martina Hynes
Jurisdiction
Ireland
Judgment Date
19 February 2026
Procedural Posture
Commercial; Company Law; Liquidation Proceedings / Final Judgment and Perfected Order Following Post Judgment Submissions
Outcome
Applicant's claims granted; declarations and orders made against first, second, and third respondents; costs awarded to applicant; disqualification orders imposed.
Legal Topics
Liquidation, Fraudulent Trading, Reckless Trading, Personal Liability of Directors, Accounting Records, Disqualification of Directors, Costs, Mareva Injunction
Company Law Insolvency Commercial Law Liquidation Fraudulent Trading Reckless Trading Personal Liability of Directors Accounting Records +3 more

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Parties

Myles Kirby

Applicant

Alan Hynes

First Respondent

Frank Hynes

Second Respondent

Adrian O'Reilly

Third Respondent

Tuskar Investment Group Limited

Fourth Respondent

Martina Hynes

Fifth Respondent

Procedural Posture

Commercial; Company Law; Liquidation Proceedings / Final Judgment and Perfected Order Following Post Judgment Submissions

Legal Issues

  1. 1 Whether the first respondent acted as a de facto director within the meaning of section 222 of the Companies Act 2014
  2. 2 Whether the first respondent is personally liable for the debts of the companies under sections 609 and 610 of the Companies Act 2014
  3. 3 Whether the first respondent is liable for failure to keep adequate accounting records

Ratio Decidendi

The first respondent was found to have acted as a de facto director and to have knowingly participated in fraudulent and reckless trading, failed to keep adequate accounting records, misapplied company property, and committed misfeasance. These findings justified the imposition of personal liability for company debts, orders for repayment, and disqualification from acting as a director or officer. The court found no valid defence or substantive submissions from the respondents and perfected the order accordingly.

Court Disposition

Applicant's claims granted; declarations and orders made against first, second, and third respondents; costs awarded to applicant; disqualification orders imposed.

Orders

  • Declaration that first respondent acted as de facto director under section 222 of the Companies Act 2014.
  • Declaration and order under section 610 holding first respondent personally liable for company debts: €794,263.51 (Hynes Jewellers), €651,609.93 (JW Fashions), €3,260,971.03 (Tuskar Property Holdings), total €4,706,844.47.