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...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Unlimited Access for 2 Years
Get a Business Account for you and your team