Leading golf club goes into examinership
Published 14/05/2016 | 02:30
One of Ireland's top golf courses has gone into examinership.
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.
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.