Businessman Colm Wu agrees to pay €2.15m to liquidated companies
Businessman Colm Wu has agreed to be disqualified as a director and pay €2.15 million to three companies he ran, including a hotel in Dublin on Eden Quay and a well-known pub on Dame Street, Mulligan and Haines. Wu had been facing a four-day cross-examination on behalf of liquidators appointed to his businesses over claims that a series of transactions appeared “entirely improper” and amounted to fraud on his businesses. Instead, he has agreed to compromise the proceedings by consenting to a number of orders against him. He has admitted reckless trading and agreed to be held personally liable for…
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