Investors to sue Portuguese golf resort over deposits

A number of Irish investors in a Portuguese property development are looking to sue the company behind the project, over allegedly unreturned deposits.

3rd February, 2013

A number of Irish investors in a Portuguese property development are looking to sue the company behind the project, over allegedly unreturned deposits.

Investors in Oceanico Developments, which was bought in 2000 by Irish property developer Gerry Fagan and British surveyor Simon Burgess, have started proceedings in the High Court to recover some of the deposits paid.

The National Asset Management Agency (Nama) and the Irish Bank Resolution Corporation (IBRC), the former Anglo Irish Bank, are...

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