IBRC loses €110m on London shopping centre sale
A London shopping centre in which 132 customers of Anglo Irish Bank were investors was sold for £80 million (€110 million), triggering a loss of more than €100 million to the taxpayer.
IBRC, which was placed into liquidation by the state in 2013, had received a valuation for its stake in the Whitgift centre in Croydon of £120 million from Cushman & Wakefield, the international estate agents, prior to its sale.
The price achieved, however, was £40...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
*New subscribers only
€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
Tom Maguire: Tax changes we make now could help business for years
The way we did business a few months ago may never return – so the opportunity is to make changes that will both aid recovery and set us up well for our new futures