A Galway-based company, LPS International Plant Ltd, appears on Ireland’s Revenue defaulters list and has agreed a large settlement related to unpaid tax. The firm is reported to owe a total settlement of €106.6 million, with €106.2 million stated as still unpaid.
According to the outlets, the company holds a very small amount of cash—€17,500 or €17.5k—despite the size of the outstanding liability. The reports also note corporate details, including that Michael Leonard, 41, is the company’s sole director and has held that role since 2016.
Both sources present the same core figures: the Revenue settlement amount, the unpaid portion, the cash balance, and the company’s directorship. They do not provide additional commentary on why the firm’s finances are structured this way, or on any immediate repayment timetable beyond the settlement and defaulter-list status.
