Courts / Wicklow / Report

Chinese businesswoman says €1m invested through immigrant programme has not been repaid

Summary

In a High Court case, a provisional liquidator has been appointed for Clonmannon House Retirement Village Limited, a Dublin‑registered company that acquired a property in Ashford, Co Wicklow, for a care facility. Beijing‑based Ms Yi Yuan, who invested €1 million in 2020 under Ireland's Immigrant Investor Programme, claims the company owes her €1.17 million, which has not been repaid. She alleges that the company's director, Candance La Fleur, made false statements in an affidavit, including that €100 000 had been paid to an investor and that the company had agreed to sell its asset, write down debt, and delay repayment—claims Ms Yuan says she never consented to. Ms Yuan also contends the property was purchased for €1.9 million instead of the €2.15 million contract price and was not transferred to the company. The company has failed to file annual returns, maintain a company secretary, and keep a director resident in the EEA.

Who, what, where, when and why

What: Report matter: Chinese businesswoman says €1m invested through immigrant programme has not been repaid. Procedural stage: hearing_or_decision

When:

• 2024-04-11 Publication

Places mentioned

Topics

Stage Hearing Or Decision

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Read the original CNI report