Marc Godart, a 36-year-old director of 40 Irish companies, has been disqualified from acting as a company director for five years by the Corporate Enforcement Authority (CEA). The Luxembourg native voluntarily accepted the disqualification, and no High Court proceedings were required, according to the CEA.
Disqualification in the Public Interest
The CEA stated the disqualification was made in the public interest, citing concerns over governance, transparency, and adherence to company law standards. The authority noted that company law provides benefits and privileges to those operating through corporate structures, but these come with expectations of responsible conduct.
Mr. Godart’s business has faced numerous legal challenges in recent years. These include cases involving illegal evictions, unauthorized short-term property rentals, and failures to comply with awards issued by the Residential Tenancies Board. Fire safety issues have also been raised in connection with properties linked to his companies.
Complex Corporate Structure
The structure of Mr. Godart’s business has drawn scrutiny. In March of last year, Mr. Justice Brian Cregan of the High Court described the corporate structure, involving holding companies in Luxembourg, as “clearly quite a murky structure.” Irish companies, such as Green Label Short Lets Ltd and Green Label Property Investments Ltd, are ultimately owned by Luxembourg-based entities controlled by Mr. Godart.
Recent filings indicate Mr. Godart has listed an address in Riga, Latvia, which is also associated with a Latvian company, Green Assets Ltd, involved in property rental and management.
The disqualification follows extensive media coverage, including reporting in The Irish Times, regarding Mr. Godart’s business practices, treatment of employees, and the provision of emergency accommodation to international protection applicants. In February of last year, the then Tánaiste, now Taoiseach Micheál Martin, indicated that the issues raised warranted investigation by multiple agencies, including the corporate watchdog and An Garda Síochána.
A request for comment from Mr. Godart regarding the disqualification received no response.
Frequently Asked Questions
What does this disqualification mean for Mr. Godart’s businesses?
The disqualification prevents Mr. Godart from acting as a company director for five years. This means he cannot be involved in the management or oversight of any Irish company during that period.
What types of legal issues have been associated with Mr. Godart’s companies?
Mr. Godart and his companies have been involved in legal cases concerning illegal evictions, unauthorized short-term property rentals, non-payment of awards from the Residential Tenancies Board, and fire safety concerns.
Was this disqualification contested in court?
No, Mr. Godart voluntarily accepted the disqualification without the need for High Court proceedings.
Given the complexity of the corporate structure and the ongoing scrutiny of his business practices, what impact will this disqualification have on the future operation of Mr. Godart’s property portfolio?
Worth a look