Saturday 3 December 2016

Leading golf club goes into examinership

Aodhan O Faolain and Ray Managh

Published 14/05/2016 | 02:30

The golf course at Druids Glen Golf Resort.
The golf course at Druids Glen Golf Resort.

One of Ireland's top golf courses has gone into examinership.

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Druids Glen Golf Club Ltd, which owns and operates the Druids Glen Golf Course, sought the protection of the High Court after a financial company - which acquired a loan a related company had acquired from Anglo Irish Bank some years ago - appointed a receiver over the 18-hole championship course.

Demand

The company, Gulland Property Finance Ltd, says it is owed €4.85m by the related company and appointed a receiver over the course on Thursday after its demand to be paid what it says it is due and owing was not satisfied.

As a result, Druids Glen yesterday asked the High Court to remove the receiver and have an examiner installed instead.

The course, which employs 36 people, hosted the Irish Open four years in a row in the 1990s, as well as the Seve Trophy in 2002.

The adjoining five-star Druids Glen Hotel and a second 18-hole course, the Druids Heath Golf Course, are not part of the examinership process and are unaffected by the application.

Irish Independent

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