Developers ordered to repay €1.5 million loan

Two Clare developers who borrowed €1.5 million to buy a hotel in Doolin have been ordered to repay the loan to Bank of Ireland.

14th July, 2012
Developers ordered to repay €1.5 million loan
Tír Gan Éan House in Doolin, Co Clare.

Two Clare developers who borrowed €1.5 million to buy a hotel in Doolin have been ordered to repay the loan to Bank of Ireland.

The bank sought summary judgment for €1,743,896 plus interest for two loans to John Flanagan and Gerard Lillis - a commercial mortgage of €1.5 million to buy the Tír Gan Éan House hotel in March 2006 and a €230,000 bridging loan in May 2007.

Flanagan filed affidavits on the two...

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