Sunday 17 December 2017

Ross offers banks his Scottish castle

INDEBTED: Dalquharran Castle in Ayrshire has been put up as security by Seamus Ross
INDEBTED: Dalquharran Castle in Ayrshire has been put up as security by Seamus Ross
INDEBTED: Dalquharran Castle in Ayrshire has been put up as security by Seamus Ross
Nick Webb

Nick Webb

A castle in the Scottish highlands, valuable paintings by Irish artists Sean Keating, Donald Tesky and George K Gillespie, as well as any proceeds from an upcoming court battle, have all been put up as security for borrowings from Anglo Irish Bank by indebted developer Seamus Ross of Menolly Homes.

Mr Ross has pledged Dalquharran Castle in Ayrshire as security against borrowings from the bank.

The ruined castle, built by Robert Adam in 1780, is earmarked for major redevelopment as a golf resort, subject to funding.

Menolly has also pledged land in Montenegro as security, as well as a number of insurance policies, according to mortgage documents.

Sunday Independent

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