IBRC under pressure over Hornbach fund

Up to 35 Irish investors in a €200 million Anglo Irish Bank fund that bought 13 German DIY stores fear they are going to lose their investment.

16th June, 2012
German DIY retailer Hornbach.

Up to 35 Irish investors in a €200 million Anglo Irish Bank fund that bought 13 German DIY stores fear they are going to lose their investment.

A well-placed source said that the Hornbach loan remained one of the best performing loans in the portfolio of the former Anglo wealth management division. But investors fear that they will lose out if IBRC, which now controls the fund, restructures the loan because it no longer meets an 80...

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