Friday 22 September 2017

Revenue official-turned-financier Quinlan ordered to repay €6.5m to Bank of Scotland reporters

FORMER revenue official Derek Quinlan has been ordered by the Commercial Court to repay €6.5m to Bank of Scotland.

The repayment relates to a loan of €180m taken out by Mr Quinlan and a number of other borrowers to buy the Bank of Ireland headquarters on Dublin’s Baggot Street back in 2006.

Another borrower, NBH Investments, was ordered to repay over €800,000.

The loan started to go into arrears in 2008, the court was told.

Another six borrowers have been ordered to repay €25m in relation to the same deal but that hearing has been adjourned until next February.

Mr Quinlan, who lives abroad, did not appear in court.

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