Desert mirage

Investors have lost millions of euro with an Irish company selling property in Dubai during the boom years, writes Kieron Wood.

8th January, 2012
Desert mirage
Dubai: property values have collapsed, with construction halted on many developments. Photo: Getty

The liquidator of Larionovo has called on the government to make bonding mandatory for property companies that sell overseas properties to Irish clients.

Larionovo, which sold developments in Dubai on behalf of Middle East development companies, collapsed in November 2008 with debts of €1.6 million. Paul McCann of Grant Thornton was appointed liquidator.

The directors of Larionovo were Ray Norton from Showgrounds Road, Ennis, Co Clare; his brother-in-law Andrew Brett, who is now understood to be...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader



Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago