24/Jul/2014 - Last News Update: 15:59

Westlife singer Shane Filan's company in receivership

Category: Northern Ireland

Published: 3rd May 2012 16:30:54

A property development company belonging to the Westlife singer Shane Filan has been placed in receivership in the Republic of Ireland.

The pop star owns Shafin Developments Limited with his brother Finbarr. It was involved in developments in Counties Leitrim and Sligo.

KPMG has been appointed as the receiver behalf of the Ulster Bank.

Westlife is one of the most successful boy bands of the last decade, selling more than 44m records.

In 2010, Westlife made the Irish Sunday Times musicians' rich list for the first time, with an estimated combined fortune of £31m.

The band, which also includes Mark Feehily, Kian Egan and Nicky Byrne, shared fifth place with singer Chris de Burgh.

The fifth member of the orginal line-up, Bryan McFadden, left Westlife in 2004 to embark on a solo career.

Last October, the band announced they would split up in 2012.

A final, farewell tour is due to start in Wales on 10 May.

On Thursday, KPMG confirmed that Patrick Horkan has been appointed as the receiver and manager to Mr Filan's company.

KPMG said Shafin Developments Limited's assets include four residential properties and a part developed site at the Hillcrest Development in Dromahair, Co Leitrim.

It added the firm also has "an interest in a site at Carraroe, County Sligo".

A spokeswoman said the move did not apply to Mr Filan's personal assets.

Shafin Developments Limited was established in 2004 and is registered in Mr Filan's home county of Sligo.

Source:
BBC News External Link Show Citation

Latest News

Harvard Citation

BBC News, 2012. Westlife singer Shane Filan's company in receivership [Online] (Updated 3rd May 2012)
Available at: http://www.ukwirednews.com/news/1426355/Westlife-singer-Shane-Filans-company-in-receivership [Accessed 24th Jul 2014]

News In Other Categories

  • Trade body SDI opens its first office in Africa

    Trade body Scottish Development International (SDI) has opened its first office in Africa.
  • Bristol Academy extends reach overseas with first foreign students

    With the doors to its brand new £1million training centre officially open, one of the UK's leading apprentice training providers, Bristol based S&B Automotive Academy, is showcasing its world-class facilities by launching a series of foreign student exchanges for the first time in its 41-year history. To get a flavour of what life is like as an apprentice in the UK, the Academy hosted 16 apprentice engineers and bus drivers from the G9 Automotive College in Hamburg, Germany, as part of a Europe-wide vocational training initiative called the ‘Leonardo Programme’ with support from the European Social Fund. In a reciprocal arrangement, S&B will be sending nine apprentices to Germany during February 2012 so that they can get an appreciation of life in the automotive industry on the Continent. A further three German exchange groups are being planned for next year. Designed to assist the development of vocational skills and training across Europe, including work placements for trainees, the Leonardo Programme has a budget of €1.75bn, which is helping to encourage UK organisations to work with their counterparts abroad. In what is expected to be another challenging year for employers in the UK automotive sector, S&B’s Chief Executive, Jon Winter, claims that the exchange initiative will bring many benefits to the Academy and its apprentices: “In a world of global automotive brands, it’s important for our learners to understand the international context of the industry they have chosen to make their career. This new exchange programme will enable apprentices and Academy staff alike to achieve a better understanding of the challenges and opportunities within the automotive arena in Europe. With the Academy’s influence also extending to the USA and Asia, there’s every possibility that this initiative could move further afield in the future.” Continued Winter: “The need for skilled technicians across the world is on the increase and we actively encourage our apprentices to look at broader horizons during their training. Many of them have already learned the phrase ‘Vorsprung durch Gelehrtheit’, quite simply, ‘Advancement through learning.” In the 2010/11 academic year, S&B doubled the number of successful Apprenticeships over the previous year with some 350 apprentices graduating from the Academy. At the same time, achievement levels reached an all-time high with an overall success rate of 85%. For those learners on the Advanced Apprenticeship three-year programme, success rates were even higher, at over 98%. PHOTO CAPTION: As part of their exchange visit, S&B Automotive Academy arranged for the German apprentices to visit Hampshire bus operator, Bluestar, at its Barton Park depot. The students are pictured with S&B’s Andy West (3rd right) and Steve Prewett, Bluestar’s Area Engineering Manager (2nd right). Ends http://www.sandbaa.com
  • George Thorne: Derby midfielder out for up to nine months

    Derby County's main summer signing George Thorne has been ruled out for up to nine months with a cruciate knee ligament injury.
  • Morning-after pill 'suitable for women of all weights'

    A review of morning-after contraceptive pills has concluded they are suitable for heavier women.
  • Barclays challenges US 'dark pool' fraud case

    Barclays has said it wants legal action alleging fraud in its US "dark pool" trading operations to be thrown out of court.
  • Twitter staff male-dominated

    Twitter has become the latest tech firm to admit that most of its staff members are men.