THE PHOENIX RISES -FOR IRISH WATER CONTRACTS

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shareridge

By Liam Deegan

No more than 100 metres from Enda Kenny’s constituency office in Castlebar, lies another office which is home to several companies controlled by Sean, Paul and Karen Mcnamara. One of these companies is a water meter contractor for Irish Water called Shareridge Limited. Shareridge were established in 2002 and are established civil engineers and pipe replacement specialists according to their website.

This is all well and good until one digs a bit deeper into the directors and their previous business dealings. Paul and Karen Mcnamara were directors of a company (Sraheens Developments Limited) that went into receivership in 2013 having racked up losses of €1.5 million mainly to Danske Bank amongst other creditors.

While this isn’t a judgement on how the company was operated as many construction firms went to the wall around this time through no fault of their own, it does leaves one question that needs to be answered by the directors and the Revenue Commissioners as to how the directors managed to attain a tax clearance certificate to take on a new contract using one of their other companies (Shareridge Ltd) on behalf of Irish Water?

My understanding of obtaining a tax clearance certificate (it is based on the directors tax status and not just the company) is that the directors must be tax compliant and have lodged their latest set of accounts and annual returns into the CRO which hasn’t happened since 2011 in the case of Sraheens Developments Limited. So how do directors obtain a tax clearance cert, win a contract for Irish Water and no one blinks an eye?

I’m sure that it has nothing to do with being 100 metres away from Enda Kenny’s door though!!