Three men were arrested and bailed
pending further enquiries into scandal-hit rental business Euro UK
Hire.
The company, which was wound up at
the end of last year, was at the centre of a City of London Police
investigation as of May, in which it is believed the Garda, the
police force in the Republic of Ireland, were also involved.
Go deeper with GlobalData
The Garda refused to confirm
whether Euro UK Hire was the subject of an ongoing investigation
but said no arrests had been made in Ireland.
Euro UK Hire first came under fire
in 2009 after being accused of raising finance from Irish lenders
on machinery already owned by UK finance houses.
The Irish lenders themselves were
also being sued by a number of UK lessors and some of these claims
are still ongoing.
A source close to the case also
confirmed a second wave of claims had been made earlier this year,
which could be resolved by July.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataIt is also understood that leasing
company Hitachi Capital, which issued the initial winding up
petition against Euro UK Hire in September 2009, is now pursuing a
personal bankruptcy petition against Simon Mangan.
Mangan, an Irish businessman and
former director of Euro UK Hire, was said to have gone to ground in
Ireland but
is now believed to be instructing solicitors to act on his
behalf.
Hitachi declined to comment.
