Tuesday September 22, 2020

Kelly asks Anglo Irish Bank to restructure €700m debt

Property developer Paddy Kelly has asked Anglo Irish Bank to restructure his €700 million in debt as part of a plan to avoid bankruptcy.

11th April, 2009

Property developer Paddy Kelly has asked Anglo Irish Bank to restructure his €700 million in debt as part of a plan to avoid bankruptcy.

Kelly has submitted formal proposals to Anglo in recent days, asking the bank to reinstate a number of major loan facilities and to roll up interest on existing loans. Bank executives are assessing the proposals, and meetings between the two sides are scheduled for the coming days.

Kelly has also asked...

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