Burned investors go legal over €27m French hotel deal

Burned investors go legal over €27m French hotel deal
The Radisson Blu Hotel in Toulouse, France.

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

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 when it...

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