Friday June 5, 2020

Gerry Barrett bids to prevent seizure of assets

Galway businessman will argue that Deutsche Bank breached a 'standstill agreement' by installing receivers over his hotel and property empire

26th September, 2017
The Meyrick Hotel in Galway was the most profitable of Gerry Barrett’s assets

Barrett, who has debts approaching €700m, will tell the Court of Appeal that the bank had agreed not to foreclose on his assets for a designated period of time, but that this agreement was subsequently breached.

The standstill agreement forms the central plank of Barrett’s appeal against a High Court decision on four related firms involved in the operation of the five-star G Hotel and the Eye Cinema.

Deutsche Bank, which acquired...

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