Kilminchy estate AGM cancelled at last minute

Any concern over disturbances at the AGM of the Kilminchy Management Company in Portlaoise did not come to pass this week beause the meeting was cancelled.

Any concern over disturbances at the AGM of the Kilminchy Management Company in Portlaoise did not come to pass this week beause the meeting was cancelled.

The annual meeting should have taken place Thursday morning, August 9 last at 9am in the Killeshin hotel, but was cancelled at the last minute.

A sign on the door to the meeting said that the meetin gwas cancelled due to the personal circumstances of one of the directors.

“Due to an unexpected family emergency I Dermot Lee Director will not be able to attend today’s AGM. And as a result I have deffered the meeting to a later date. All members will be notified of an alternative date in due course. Apoligies for any inconvience caused,” it said.

Residents who attended said they were upset at the last minute cancellation but also because they learned that the room had been paid out of company funds.

Some residents decided to hold an informal meeting “to air their views associated with the way the management company is being ran and their experiences of the way they have been treated.”

At the meeting it emerged that a sinking fund totalling €96,302 exists in the Detailed income and expenditure accounts’ of Kilminchy Management Company Ltd for 2009, 2010 and 2011.

Residents learned that the sinking fund was part of the €122,350 in uncollected debts to the company.

The meeting is understood to have lasted for at least 90 minutes. It was claimed that the Office of the Director of Corporate Enforcement informed some members that the AGM could still have taken place. without any Directors present as long as a Quorum of members (four) was present.

In a statment, the members said there remains a lack of transparency around the operation of the company.