Parkwest Autopoint, a major independent Dublin-based motor dealer, has gone into receivership. This has left several customers without their cars, which in some cases are worth in excess of €100,000 each.
The dealership, which does not hold any franchises, is well known for selling high-value used cars from marques such as Porsche, Maserati and Lotus.
The company went into receivership with over €1m worth of used cars in stock including two Porsche 911 Carerras.
The receiver, George Maloney from Dublin-based accountants, Barker Tilly O'Hare, confirmed that there are several instances where Parkwest's customers are contesting ownership of high-value cars that were found on the company's premises.
The contested cars, the value of which runs into hundreds of thousands of euro, appear to be cars that were traded-in by customers who then did not receive their new car.
Even customers who left their car in for a service were caught in the crossfire and have had to prove ownership before the receiver would release their cars back to them. "Every person that has a car on site or who is contesting ownership must prove that they are the rightful owner. They need to support their claim with as much detailed documentation as possible," explained Maloney. Until customers can prove that they are the rightful owner, the car will remain in the possession of the receiver.
"We understand that many people have been seriously inconvenienced by this and we are trying to resolve this as soon as possible," said the receiver. There is also great interest in the remaining stock of high-value premium cars. These will be disposed of "in an appropriate manner", said Maloney.
The man behind the company, dealer principal, Kevin Flynn, confirmed the company stopped trading late last month but declined to comment further, although he did say he remained hopeful the company could be saved. "Parkwest went into receivership several weeks ago, it is as simple as that. I have no involvement there any more; it is in the hands of the receivers. But it is not impossible that the company could start trading again."