Deloitte & Touche earned €1m in fees from Greenstar receivership

Documents lodged with Companies Office

Earlier this week, US investment firm, Cerberus Capital Management announced the completion of the acquisition of Greenstar.
Earlier this week, US investment firm, Cerberus Capital Management announced the completion of the acquisition of Greenstar.

Deloitte & Touche earned fees and expenses of nearly €1 million in 12 months from the receivership of Ireland’s largest waste firm, Greenstar.

Earlier this week, US investment firm, Cerberus Capital Management announced the completion of the acquisition of Greenstar – nineteen months after the waste firm entered receivership.

Documents lodged with the Companies Office show that for the first year of the receivership, receiver and manager, David Carson of Deloitte & Touche received €964,606 in fees and expenses from the work he and his team at Deloitte carried out.

The receiver extracts show that an additional €65,644 was paid out in professional fees for services from persons unknown.

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The documents show that Mr Carson received €350,000 for the first six months of the receivership from August 23rd 2012 to February 22nd 2013 and received an additional €614,606 in fees for the period February 23rd 2013 to August 22nd 2013.