DCSIMG

Ard Dealgan to be sold in March IBRC sale

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The troubled Ard Dealgan looks set to be sold in one of two tranches of IBRC sales.

The Democrat understands that the development is set to be sold in one of two bundles, one which comprises of over €1 billion in assets, and another which is worth roughly €800,000.

In a correspondence with Cllr Mark Dearey, the IBRCstates: “The Special Liquidators are very pleased with the successful conclusion of loan sales in respect of three major portfolios of IBRC loans, namely Rock, Salt and Evergreen.”

Ard Dealgan is part of one of two portfolios, Project Sand or Project Pebble.

“The sales process is continuing on the remaining books according to the programme previously set out by the Special Liquidators,” say IRBC.

All going well Ard Dealgan will have a new owner by 14 March, when all sales will be complete, and could mean that some resolution will be found for the problem development. SEE PAGE 16

 
 
 

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