Wednesday 28 June 2017

AIB gains control over Carroll land

Property developer Liam Carroll. Photo: Courtpix
Property developer Liam Carroll. Photo: Courtpix

Dara Doyle

Allied Irish Banks had a receiver appointed to companies controlled by Liam Carroll after debts of €554m went unpaid.

The bank had “wisely” decided not to sell the properties controlled by the companies given the “wretched” market, Judge Peter Kelly said in court in Dublin today.

Instead, the receiver acting on the bank’s behalf is entitled to rents and profits flowing from the 12 sites.

Bloomberg

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