27/09/2010
Developer Collapse Costs Bank £36m
The collapse of housing firm McDaid Developments will cost Bank of Ireland almost £36m.
The Londonderry based company entered administration in June.
At the time, it had 13 sites across County Donegal, Derry, Cavan and Longford, which consisted of undeveloped land, completed houses and partially built developments.
The developer owed the bank £42m.
Administrators estimate the sale of remaining assets will only generate £8m.
Last week it was revealed County Tyrone based APL Developments entered administration owing £3.3m to Ulster Bank, £273,000 to Bank of Ireland and £65,000 to Revenue and Customs.
The general manager of First Trust, John Kilty said many land and development loans were "significantly underwater."
(GK/KMcA)
The Londonderry based company entered administration in June.
At the time, it had 13 sites across County Donegal, Derry, Cavan and Longford, which consisted of undeveloped land, completed houses and partially built developments.
The developer owed the bank £42m.
Administrators estimate the sale of remaining assets will only generate £8m.
Last week it was revealed County Tyrone based APL Developments entered administration owing £3.3m to Ulster Bank, £273,000 to Bank of Ireland and £65,000 to Revenue and Customs.
The general manager of First Trust, John Kilty said many land and development loans were "significantly underwater."
(GK/KMcA)
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03 January 2007
Bank robbery charges dropped
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Consequences ‘dire and grim’ says Robinson
The consequences for Sinn Féin will be “dire and grim” if Chief Constable Hugh Orde confirms IRA involvement in the £22 million Northern Bank robbery last month, said DUP deputy leader Peter Robinson.
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Northern Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
