Aviation entrepreneur Ulick McEvaddy who, along with his brother Des and others, wants to sell a strategically located Dublin Airport site. Photograph: Matt Kavanagh
Accounts show that DA Terminal 3 Ltd, the McEvaddy-controlled company that holds their share of the land, owed €39.66 million to creditors at the end of last year. The accounts also show that the company owed €11.16 million to the McEvaddy brothers themselves, who are its directors, but state that other creditors must be repaid before the businessmen can recoup this debt.
They had been planning to build a third terminal at Dublin Airport for several years, despite its owner, DAA, insisting that this was not needed. Consequently, news that the McEvaddys, along with co-owners Seán Fox and Brendan and Orla O’Donoghue, wanted to sell the land came as a surprise. It is understood that the State company then got separate independent valuations of the site and offered a small premium to the higher estimate.
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