2 days ago
Liquidators appointed to marketing company Frank&Bear amid alleged misappropriation of funds
Joint provisional liquidators have been appointed by the High Court to Dublin company Frank&Bear Limited, stated to be involved in a number of significant digital marketing campaigns in Ireland, the UK, Europe and the United States.
Barrister Eoin Coffey told Mr Justice David Holland that the company, which employs 12 people, was unable to meet its debts and that two of its three directors were engaged in promoting a petition through the courts for the winding up of the firm.
Mr Coffey, who appeared with Grace Armstrong of
McCann Fitzgerald Solicitors
, said the petition was being sought by directors Niamh Haughey and fellow director Michael Corcoran, a key member of the company's senior management team responsible for running a consultancy arm by the name of 'Frankly.'
Counsel told the court that Ms Haughey, of Hollywood Grove, Newry, Co Down, had indicated in sworn written evidence opened to the court that director and financial controller David Connor of Ontario Terrace,
Ranelagh
, Dublin, had misappropriated approximately €1.75 million of company funds.
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Ms Haughey said a forensic investigation had revealed that Connor had taken out company funds for renovations to his family home and also for the acquisition of a number of vehicles that had been applied to his personal use and for members of his family. She also stated that Connor owned a season ticket to a UK Premier League Club and had used company funds to finance family holidays.
Mr Coffey told Judge Holland that Connor had also formed the opinion that the company should be wound up but was not co-operating with the appointment of joint provisional liquidators Dessie Morrow and Diarmaid Guthrie of Azets Ireland.
Ms Haughey said Frank&Bear had been involved in a number of significant digital marketing campaigns throughout Ireland, the UK, Europe and the US and had provided consulting services to a number of well-known brands in the area of social media strategy and operations.
She had met Mr Connor when she had commenced working for an unrelated digital marketing company in May 2016 when he was CEO and majority shareholder of that company which had also employed Mr Corcoran.
In January 2020 she had been offered a role in a leading international agency and on Mr Connor having become aware of the offer he had suggested she turn it down, which she did, and go into business with him instead which she had done.
Frank&Bear was a social media and digital marketing agency specialising in creating and managing online marketing campaigns to help businesses reach and engage their target audiences and increase revenue. The company operated fully remotely and did not own or lease any real property.
To her knowledge the company had traded profitably for the period ending December 2022 but in April 2025 Mr Corcoran had been informed by a building contractor that they had carried out renovations to Mr Connor's personal property but had received payment for the works by Frank&Bear.
This had led to the forensic investigation into the financial matters of the company and she stated there had been a complete breakdown in trust and confidence between Mr Connor and herself and Mr Corcoran. Mr Connor, who had refused to co-operate with the investigation, had been suspended on full pay.
Both she and Mr Corcoran now believed the company should be wound up in the interest of employees and creditor.
Judge Holland directed that Mr Morrow and Mr Guthrie be appointed joint provisional liquidators of Frand&Bear with power to take control of all property to which the company appeared to be entitled, including books and records and power to institute legal proceedings.
The application was brought ex parte in the absence of any representation on behalf of the company and returned to July 7th.
