Saturday June 6, 2020

Burned investors go legal over €27m French hotel deal

Luxury Radisson Blu hotel in Toulouse entered pre-administration last autumn

9th August, 2015
The Radisson Blu Hotel in Toulouse, France.

Irish investors in a Radisson Blu hotel in Toulouse have initiated twin-track proceedings here and in France to oust a receiver appointed by AIB over an alleged €27 million debt.

Tom O’Brien of Mazars was appointed by the bank last month over the shares of Irish investment vehicle Blagnac which owns the hotel.

AIB claims Blagnac failed to comply with the terms of a restructured mortgage agreement and could not satisfy the debt...

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