Bargaintown brothers take on IBRC over €18m loan issue

Bargaintown brothers take on IBRC over €18m loan issue

Bargaintown owners are pursuing former Anglo Irish Bank's liquidator over a financial instrument attached to an €18 million loan taken out during the boom.

The brothers who own the well-known Bargaintown furniture business are pursuing former Anglo Irish Bank’s liquidator over a financial instrument attached to an €18 million loan taken out during the boom.

The now-liquidated IBRC is listed as a defendant in dozens of other court proceedings believed to relate to similar issues, where complex financial hedging products were attached to loans given by Anglo that plaintiffs will claim cost them millions.

Alan and Norman Prendergast, who...

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