Ulster Bank seizes large Cork property schemes

Ulster Bank has seized a number of landmark property schemes from companies connected to Frinailla Developments, in an effort to shore up a €100 million exposure to the Cork development group.

Ian Kehoe - avatar

Ian Kehoe

15th May, 2010

Ulster Bank has seized a number of landmark property schemes from companies connected to Frinailla Developments, in an effort to shore up a €100 million exposure to the Cork development group.

The bank has appointed a receiver over three of the group’s large-scale developments in the Cork region after growing increasingly concerned about its money in light of the collapse in the Irish property market.

Acting on foot of charges over two companies,...

Subscribe from just €1 for the first month!

Currency

What's Included

With any subscription you will have access to

  • 971569B3-2C5E-4C45-B798-CEADE16987A8

    Unlimited multi-device access to our iPad, iPhone and Android Apps

  • 099C8662-C57C-42F2-9426-F2F90DF17C8F

    Unlimited access to our eReader library

  • 198AE43B-B9CF-4892-8769-D63C2104BA08

    Exclusive daily insight and opinion seven days a week

  • D8F37B78-25E4-4E4A-A376-4F5789B1564A

    Create alerts to never miss a subject that matters to you

  • B15F2521-37CD-4E02-B898-730A20D39F7F

    Get access to exclusive offers for subscribers on gifts and experiences

  • A564FE02-1AB8-4579-AF9D-BA32A2E5ACA7

    Get content from Business Post, Business Post Magazines, Connected, Tatler and Food & Wine

Share this post

Related Stories

The year in review

Legacy Richie Oakley 1 year ago

Newsround: What Thursday’s papers say

Legacy Leanna Byrne 5 years ago

More cycle routes, expansion of Luas to Bray and new bus network proposed

Legacy Digital Desk 5 years ago