KMPG has been appointed as a receiver to Westlife star Shane Filan’s property development company.
Ulster Bank has appointed KPMG as receiver to the company, Shafin Developments Limited, run by the singer and his brother Finbar.
The Irish Independent reports that the company, established in 2004, is believed to have debts in excess of €5 million [£4m]. It had been involved in commercial and residential developments.
Mr Filan has recently moved from Ireland to Surrey with his family and it has been reported that he has applied for an Individual Voluntary Arrangement in the UK to avoid bankruptcy.
Patrick Horkan of KPMG was appointed receiver and manager by Ulster Bank on 27 April 2012 for the company with a registered address at Castle Street in Sligo.