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New liquidator appointed to former operators of city arthouse cinema

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Galway Bay fm newsroom – A new liquidator has been appointed to the former operators of the Pálás arthouse cinema in the city.
Until its collapse in July of last year, Solas received almost €8m in state funding for the project.
The cinema, which began development in 2009, was repeatedly dogged by setbacks and controversies – ultimately costing almost €8m to bring to fruition.
Operator Solas then transferred the lease on the building to Element Pictures in December of 2016 for a fee of around €30,000.
Seven months later, Solas collapsed, with virtually no assets after trading away the cinema building itself.
Revenue says it is owned over €800 thousand by Solas arising from a VAT audit – while a UK insurance firm is owed €200 thousand.
However, according to the Sunday Business Post, at the time of its demise, Solas’s only recorded asset was just €2 thousand in a bank account.
An investigation by the Charities Regulator found that the transfer of the cinema was carried out with no independent valuation or competitive disposal process.
It also criticised the fact that Solas recorded no-income over 10 years, despite receiving public donations.
A new liquidator has now been appointed to the company, after the previous liquidator quit the role after a creditor took legal action – which effectively left the winding-up of Solas in limbo until now.

Breaking News

HSE Notified of 1,335 confirmed cases of Covid-19.

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Galway Bay FM Newsroom – The HSE has today been notified of 1,335 confirmed cases of Covid-19.

This is an increase of 172 on yesterday’s figure.

The five-day moving average of cases stands at 1,305.

282 COVID-19 patients are in hospital this morning with the virus – a decrease of 15 in the last 24 hours.

65 Covid patients are in ICU.

The decrease in figures is also shown in figures for Galway University Hospital.

As of 8pm yesterday evening, there are 11 receiving treatment with 4 in ICU, the same as 24 hours previously.

In Portiuncula Hospital in Ballinasloe, there are 2 receiving treatment, an increase of 1 on the day previously.

There is also 1 in ICU, also an increase of 1 on 8pm on Thursday.

MEANWHILE

The Minister for Health has announced the removal of all States from the Mandatory Hotel Quarantine list.

Six South American countries were the last nations left on the list.

Over 10,000 people entered Mandatory Hotel Quarantine – which was introduced in March.

Travellers into Ireland must still abide by the relevant travel regulations including the need for a PCR test if they’re not vaccinated.

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Ballinasloe Fair Co-ordinating group officially cancel this year’s events.

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Galway Bay FM Newsroom – The Ballinasloe Fair co-ordinating group have made the decision in the interest of public health and safety to officially cancel this year’s events.

The overall co-ordinating group plan to meet at the end of the year to make plans for 2022 and to celebrate this year’s anniversary.

In a statement released this afternoon, The coordinating committee said they would like to thank the local community, sponsors and all the associations involved for their ongoing commitment and support.

They added that they looked forward to welcoming all participants and visitors to Ballinasloe Fair and festival in 2022 for the 300th anniversary.

The statement concludes by saying that no parking is permitted in the Fair Green area or its environs.

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Irish Independent reveals five Galway TD’s have assets over 1 million euro

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Galway Bay FM Newsroom – The Irish Independent has revealed that Five Galway TD’s have assets worth over 1 Million Euro.

The Rich List, published in today’s paper, has found there’s 68 TDs with assets to the value of a million or more.

The five are, In Galway West Eamon O’Cuiv and Noel Grealish, In Galway East Sean Canney and Ciaran Cannon and in Roscommon/Galway Denis Naughten.

The newspaper’s Political Rich List, is based on a detailed examination of the value of their properties, land, businesses, shareholdings and pensions.

Independent TD Michael Lowry tops the list, with assets estimated to be worth over 7 million euro.

The project also revealed that one-quarter of the 160 TDs in the Dáil are landowners or property investors, with some renting up to four properties.

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