AIB linked to bankrupt British property group

AIB has emerged as a lender to a British property group that has gone into administration with debts of £2 billion.

19th March, 2011

AIB has emerged as a lender to a British property group that has gone into administration with debts of £2 billion.

The bank was one of nine lenders to the Peverel group of companies, owned by businessman and property investor Vincent Tchenguiz. The group was put into administration last week after it was unable to meet a demand from Bank of America Merrill Lynch for the repayment of £136 million in loans and interest.

AIB’s...

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