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



Unlimited Access for 1 Month, €19.99 Monthly thereafter

Get basic

*New subscribers only

You can cancel any time.



€149 For the 1st Year

Unlimited Access for 1 Year

You can cancel any time.




90 Day Pass

You can cancel any time.

2 Yearly



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

James O’Connor: Ireland could turn a higher rate of corporate tax into a win-win

Tax James O'Connor 8 hours ago

Michael Brennan: Acid test of Greens’ peace deal will be what happens in Dublin Bay South

Home Michael Brennan 1 day ago

Analysis: Will new EU law cause a chilling effect on future FDI into Ireland?

EU Graham Butler 1 day ago

Willie O’Reilly: Trump gets personal with a special message

Media Willie O'Reilly 2 days ago