Judge urges investigation into owners of trendy Dublin nightclub
A High Court judge has said there should be a investigation into the conduct of the directors of Dublin's Residence nightclub, brothers Simon and Christian Stokes.
Mr Justice Peter Kelly also said he was withdrawing the court's protection for the St Stephen's Green club, a favourite of Dublin socialites.
In a matter of weeks the Stokes brothers have seen their well known restaurant Bang Cafe being wound up and now the High Court has refused to appoint an examiner to their nightclub Residence..
The 34-year-old twins opened Bang Café in 1999 while Residence opened around the corner on St Stephen's Green in May 2008.
The initial cost of membership was an annual fee of €1,600 and a join-up fee of €250.
However the private members club has never turned a profit and owes the Revenue Commissioners €1.2m and Zurich Bank more than €2.3m.
Mr Justice Peter Kelly said it was a case that warrants an investigation into the directors' conduct, which would not be possible under examinership.
Justice Kelly has however extended the court's protection until later this afternoon when lawyers for the Stokes brothers are likely to apply for a stay on his order pending an appeal.
