Monday August 10, 2020

High Court finds that brothers owe Ulster Bank €22m

The men claimed unsuccessfully that CBRE had been negligent in its valuation of a Co Wicklow site on which they had planned to build a data centre

5th July, 2020
One of the brothers, Brian McDonagah, who the High Court found liable to repay the full sum of the 2007 loan from Ulster Bank

Ulster Bank has secured a €22 million judgment against three brothers, in the latest development of a long-running legal battle between the two parties.

The High Court found that brothers Brian, Kenneth and Maurice McDonagh, are liable to repay the full sum of the loan they received in 2007 to purchase an 82-acre site in Kilpeddar, Co Wicklow, which they had intended to develop as a data centre.

Brian McDonagh, an engineer and businessman, became well-known...

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