The High Court has approved an application by the Central Bank to appoint a liquidator to Berehaven Credit Union in Castletownbere, Cork.
The central bank said that the action was taken because Berehaven was “no longer viable as a stand-alone credit union”.
In a statement this afternoon, the bank said “alternative options” to resolve the serious financial difficulties at the credit union were examined, but were found not to be feasible.
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team