HomeBussinessAgent claiming to represent Colm Wu tries to bypass receivers at Dublin...

Agent claiming to represent Colm Wu tries to bypass receivers at Dublin property


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Embattled businessman has seen millions of euro worth of property in Dublin slip out of his control

It is understood the tenants ­contacted gardaí, who attended the property in Dublin while the agent was present.

The agent had shown up at the residential property in Dublin on more than one occasion after receivers had been appointed.

Mr Wu did not respond to a request for comment.

Colm Dolan and Nicholas O’Dwyer, of Grant Thornton, were appointed receivers on May 22 this year over certain assets controlled by a Colm Wu company called Baron Clonbrock Capital Ltd.

The assets include millions of euro worth of assets in Dublin, including 22 Lower Leeson Street, 44 Lower Leeson Street and a residential property in Crumlin.

First Citizen Finance has a charge over the properties on foot of a 2019 ­finance agreement.

On the day they were appointed receivers over the properties, the tenants of the house in Crumlin were notified by letter by a property management firm that Mr Dolan and Mr O’Dwyer had been appointed receivers over their home.

The tenants were instructed that from that date on, no rent should be paid to any other third party. They were provided with a new bank account to pay their rent into.

However, on at least two occasions after the receivers had been appointed, an individual purporting to be an agent of Mr Wu arrived at that residential property.

The Irish Independent understands that he attempted to make the tenants sign a new rental agreement that would see their rent rise by as much as 40pc.

However, tenants were concerned and visited a garda station to complain. A garda subsequently attended the property while the purported agent of Mr Wu was present. While the individual then left, he returned last week.

Mr Wu, also known as Guoqing Wu, has also seen the receivers from Grant Thornton recently appointed by First Citizen Finance over certain assets owned by Celtic Ranelagh Capel Investments Ltd.

The assets in the company over which the receivers have been appointed include 1 Saint Alphonsus Road in Drumcondra. It is listed as having been bought for €900,000 on the date that the ­debenture was created between First Citizen Finance and Celtic Ranelagh Capel Investments.

The other asset in Celtic Ranelagh Capel Investments over which the receivers now have control is 66 Lower Drumcondra Road. It is listed as having been bought for €750,000 on the date the debenture was signed.

Mr Wu has extensive property assets, with Chinese backers. Among those who has provided finance to one of his companies that owns properties on Dublin’s North King Street is Yingchun Deng, who lists his residential address as being one of Dublin’s most expensive homes.

A liquidator, Myles Kirby, was appointed earlier this year to Mr Wu’s Castor Ventures Ltd, which operated the Mulligan & Haines gastropub on Dublin’s Dame Street. The pub closed, with the loss of 30 jobs. Another pub in Ashtown was saved.

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