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Docklands pub seeks examinership
Sunday, October 05, 2008 By Ian Kehoe
The Ocean Bar, an upmarket pub in the Dublin docklands, has sought protection from its creditors after running up debts of almost €2 million.

The premises consist of a bar, restaurant and function room on the ground floor of a residential tower at Charlotte Quay in Dublin 4.

It has struggled financially in recent times as a result of the downturn in pub business and pressure from rising costs.

The directors of Birchport, the holding company behind the bar, have petitioned the High Court to put the firm into examinership to allow it to restructure its debts and deal with its creditors.

Kieran McCarthy, an accountant with Hughes Blake, was appointed interim examiner late on Friday evening. McCarthy now has up to 100 days to save the company.

Birchport owes €1.32 million to ACC Bank, which has a secured charge over the company’s leasehold interest, according to documents lodged with the High Court.

A related pub, the Ivory Bar in Dalkey, Co Dublin, is also in examinership. That pub is incorporated as Nerano.

Andrew Neiland and Eoin Breslin are directors of both companies. Brendan O’Donovan, the managing partner of DFMG Solicitors, is also a director of Nerano.

Breslin owns 50 per cent of this company; the other 50 per cent is controlled by a company called HAL Nominees. According to the Companies Office, HAL Nominees is controlled by Dublin lawyers Ernest Farrell and John Dockrell. A number of Dublin pubs are understood to be facing financial difficulties.

Vintners’ groups claimed last week that 1,500 pubs had closed and thousands of jobs had been lost since 2001.

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