Bank thwarted Barrett plan to refinance €762m loans

Deutsche Bank rejected as ‘unacceptable’ an offer by Cardinal Capital to refinace debts by property developer and hotelier Gerry Barrett

Ian Kehoe - avatar

Ian Kehoe

3rd September, 2017
Galway hotelier and property developer Gerry Barrett

Deutsche Bank rejected an offer by Irish investment house Cardinal Capital to refinance the debts of Galway hotelier and property developer Gerry Barrett, prior to its move to foreclose on vast portions of his business interests.

Cardinal, which has already refinanced other parts of Barrett’s business, offered between €70 million and €75 million to refinance loans connected to the Meyrick Hotel, the five-star G Hotel and Eye Cinema in Galway and other assets.

...

Subscribe from just €1 for the first month!

Exclusive offers:

All Digital Access + eReader

Trial

€1

Unlimited Access for 1 Month

Get basic

*New subscribers only

You can cancel any time.

Annual

€200

€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.

Quarterly

€55

€42

90 Day Pass

You can cancel any time.

2 Yearly

€315

€248

Unlimited Access for 2 Years

You can cancel any time.

Team Pass

Get a Business Account for you and your team

Share this post

Related Stories

Willie O’Reilly: A long overdue reckoning for the giants of social media

Analysis: Fine Gael and Sinn Féin trade blows as if it’s an election year

Comment: We should double Services Sites Fund to drive down cost of affordable housing in Dublin

Susan O’Keeffe: Vaccination programme needs to be treated as a national emergency