BOSI seizes 40 properties against Ipos pharmacy exposure

Bank of Scotland (Ireland) (BOSI) has seized up to 40 properties in an effort to reduce its exposure to Ipos, the troubled independent pharmacy ownership scheme.

20th February, 2010

Bank of Scotland (Ireland) (BOSI) has seized up to 40 properties in an effort to reduce its exposure to Ipos, the troubled independent pharmacy ownership scheme.

The Sunday Business Post has established that the bank advanced more than €35 million to funds in the Ipos scheme, which were used to help pharmacists buy their own outlets.

Following the collapse of Ipos in recent days, BOSI has taken possession of almost 40 properties over which it had security.

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