Receivers appointed to developers in Midlands

Ulster Bank has appointed receivers to three related building companies that accumulated several million euro in debts from property developments in the Midlands, writes Gavin Daly.

16th April, 2011

Ulster Bank has appointed receivers to three related building companies that accumulated several million euro in debts from property developments in the Midlands, writes Gavin Daly.

The bank has taken control of Athlone-based Bacoro Developments, Bolterra and Bespoke Construction, which had built housing in Westmeath and Longford.

Aengus Burns and Michael McAteer of Grant Thornton have been appointed joint receivers and will assess what value can be recovered from the assets of the companies.

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