Courts / Cork / Report
Fota Island resort owner gets temporary freezing orders after alleging fraud
Summary
The owners of the Fota Island resort and other luxury hotels in Cork have secured temporary freezing orders against former directors Xiu Xiang Kelly and her son Tuo Du. The High Court granted the orders after Mr Yuzhu Kang, a Chinese businessman who had previously resolved a dispute over the resorts, alleged that the directors defrauded the companies of more than €1.8 million. Mr Kang claims the directors received €1.5 million for artworks and furniture that were worth far less, and that €246,000 was paid for sham redundancies in 2021. He also cites an unpaid €125,000 loan to Ms Kelly. The court ordered that Ms Kelly's assets not fall below €1.85 million and Mr Du's not below €1.7 million, pending further proceedings. The case remains at the temporary injunction stage, with the matter set to return to court early next week.
Who, what, where, when and why
What: Report matter: Fota Island resort owner gets temporary freezing orders after alleging fraud. Procedural stage: hearing_or_decision
When:
- December 2023 Other
- 2024-03-15 Publication
Places mentioned
- High Court
Topics
Fraud Stage Hearing Or Decision
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