Golf is in the rough

The banks have moved in on two high-profile golf resorts, and more courses may soon meet the same fate

Ian Kehoe - avatar

Ian Kehoe

21st February, 2009

Having spent the good years of the Celtic tiger striking deals on the golf course, Ireland’s bankers now find themselves back patrolling the fairways during the bad ones as well. This time, however, it is for all the wrong reasons.

Within the space of 48h ours last weekend, Irish financial institutions took control of two landmark golf developments, after becoming increasingly concerned about tens of millions of euro in outstanding loans.

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