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news report
 Thursday April 03, 2003 07:28 by John Sullivan - Freelance Journalist john.sullivan at hush dot com
 Advisor to Ahern suspected of fradulent trading after collapse of web design firm in 2002 Senior government advisor and top Dublin consultant, Kevin Bonner, faces a grilling from the Companies Registration Office (CRO) over his involvement in the failed web design company Bradella Ltd, trading as Internet Business Ireland. Mr Bonner, whom is currently the head of the Competition Authority and a member of other government bodies such as the Garda Strategic Management Steering Group & the Council of the Irish Institute for International Trade, was a director or Bradella Ltd during its demise in October of last year with debts of close to €400,000. Bradella, trading as Internet Business Ireland, was a web design and hosting company. At a stormy creditors meeting, Owen Fitzgerald was appointed as liquidator by means of Transition Management and Tadght Twoomey, whom IBI owed substantial amounts to and also happen to be in Mr. Bonner’s list of directorships. Tadght Twoomey is also a director of Transition Management. The company had realisable assets of €38,000, however this is considered to be misleading as most company assets including the much valued and exclusive client list were sold off just moments before the announcement of the Liquidation. Amongst its clients were several government departments, including Health and Education, The Defence Forces, Davy Stock Brokers and Compaq Ireland (Later HP). In a further twist, Transition Management is believed to be owned by a company called Constructive Management, which has had links to several companies linked with ongoing tribunal enquires. Staff we let go after battling for several months without pay to save the company, however staff sources indicated that the directors, including Mr. Bonner, were fully aware of the gravity of the situation and had sough investment from the parent company Transition Management, but were turned down. Despite this, the company still continued to rack up substantial debts. Sources within the company office, say that Mr. Bonner came to their attention after a complaint by a creditor after the appointment of the liquidator. As we await the outcome of the investigations, the fact remains that Mr. Bonners reputation has come into question and his judgement to remain on key government bodies must seriously be questioned as to the financial dealing between Bradella and government bodies in the awarding of contracts.
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Comments (1 of 1)
Jump To Comment: 1In my article above I stated that Mr. Bonner was "The Head of the Competition Authority". This is in fact not the case. Dr. John Fingleton, whom has no links with the above mentioned companies, is the current serving head of the Competiotin Authority. I regret any harm or offence caused to Dr. Fingleton.
I am awaiting clarification as to Mr. bonners position either current or past in the organisation if any.