Newcourt has €30m deficit in its finances

There is a €30million deficit in the finances of the Newcourt Group, the quoted services company that collapsed into receivership last week.

Ian Kehoe - avatar

Ian Kehoe

6th June, 2009

There is a €30million deficit in the finances of the Newcourt Group, the quoted services company that collapsed into receivership last week.

Internal company documents which have been seen by The Sunday Business Post show that the company values its total assets at less than €30 million in the event of a fire sale of all its business units, while it owes banks and creditors between €58 million and €60 million.

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