management company dissolved

D

dublin7lady

Guest
any advice information appreciated-

Our complex is approximately 4 years old - we purchased 3 years ago. 2 out of the 3 original developers have remained as directors of the management company - as the owners were not happy that they had completed the complex to a sufficient standard none were happy to become directors of the management company at AGM back in '06. Since '06 there hasn't been an AGM and i note from CRO that the company has been recently dissolved.

It had been listed for strike off in recent months - last annual return was filed in 2005 but the management agent had assured me that auditors were working to have company reinstated. It looks like that hasn't happened. Nobody is happy with the management agents work either and there is a considerable amount of management fees outstanding from owners.

As owners what can we now do? Has anyone been in a similar situation?


thanks
 
Re: management company disolved

I sympathise with you as its not a good position to be in as nobody in your development can now sell. I am nearly sure someone here posted regarding same issue last week and was directed to a website setup to deal with this...I'll see if I can find it

edit. it was actually here I read it
http://www.boards.ie/vbulletin/showthread.php?t=2055310888
and here is link to website
[broken link removed]

Hope it helps
 
Re: management company disolved

thanks zefer - the apartments owners link is very useful- i

t's going to be tricky to get it all sorted out as the management company is still in the control of the developer....

there is currently one unit for sale so perhaps that might bring things to a head?
 
Re: management company disolved

It might be worth filling out a complaint form to the ODCE complaining that the developer, as director, was negligent in their duties and it was as a result of their actions that the company was dissolved. I'd cc a copy of the form to the developer so they know you're taking action.

In reality, the ODCE will take several months to get back to you because they're incredibly underfunded and understaffed but the threat of ODCE involvement might be enough to light a fire under the developers ass.

By the way, the ApartmentOwners link is a wiki so if you find out anything new or useful, make sure to add it so other people can benefit.
 
Re: management company disolved

The NCA booklet on management companies at www.consumerconnect.ie may have some relevant info for you? Unfortunately a situation in which the management company has been dissolved (or struck off?) and was in the hands of parties other than the residents may well be tricky and expensive to sort out. You (the residents) may need to look at getting legal advice. Depending on your situation you might be able to lobby local elected representatives to see if they can do anything on your behalf. It's unfortunate that sometimes it comes to this but, hey, this is Ireland...
 
Re: management company disolved

It could be that it is in the process of being re-instated. If the company has only recently been dissolved, (ie within 12 months) then it can be restored by filing a H1 form and bringing all the Annual Returns up to date.

This will mean that the Auditor could be in the process of preparing accounts. I would think that the problem lies there. There will also substantial filing fees that will have to be borne. If the company is stuck off for more than 12 months, it is a far more costly exercise to complete and I would do my best to ensure that this does not happen.

Could a number of residents come together and deal with the Developer/Managing agent as a group.
 
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