Investor funds of €150m tied up in failed First Equity

Investors and financial institutions have more than €150 million tied up in First Equity, the Dublin investment group that went into liquidation two weeks ago.

11th April, 2009

Investors and financial institutions have more than €150 million tied up in First Equity, the Dublin investment group that went into liquidation two weeks ago.

Company documents seen by The Sunday Business Post show that investors ploughed €30 million into a range of projects that were managed by First Equity. The group also secured more than €120 million in project finance from international banks and financial institutions.

Among the financial institutions listed in the company...

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