Thursday 18 December 2014

O'Gara's firm in talks with banks to solve its debt woes

Published 12/04/2013 | 05:00

Munster's Ronan O'Gara celebrates victory over Harlequins in the Heineken Cup Quarter Final at Twickenham last Sunday

RONAN O'Gara's company is in detailed discussions with its banks on how to handle its debts.

The Munster rugby out-half is a director of Stand Off Promotions, which recorded accumulated losses in the year to the end of April 2012 of €278,095.

This was down from €303,541 in 2011.

Accounts state that the company is relying on the continued support of its bankers and creditors.

"The company is in detailed discussions with its banks regarding its overall debts," the accounts state.

"The directors are of the opinion that there will be a satisfactory outcome to these discussions."

Stand off Promotions also had debts of €116,874 due within a year of the end of April 2012, while amounts falling due after that totalled €543,171. The latter figure referred to bank loans.

O'Gara plays for both Munster and Ireland. In 2009, he became the all-time leading points scorer in the history of the Six Nations and then steered Ireland to a historic Grand Slam.

His late drop goal against Wales in the title decider at the Millennium Stadium in Cardiff secured Ireland its second ever Grand Slam title after a wait of 61 years.

Irish Independent

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