BoSI Appoints Receiver To Dundrum House Hotel

By Publications Checkout
BoSI Appoints Receiver To Dundrum House Hotel

According to the Sunday Business Post, Bank of Scotland (Ireland) has moved to seize the family-owned Dundrum House Hotel in County Tipperary.

The paper reports that BoSI has appointed Kieran Wallace of KPMG as the receiver to Hasado, the holding company behind the 68-room hotel. 

Dundrum House Hotel is a converted Georgian mansion which is extremely popular for weddings. Located on more than 200 acres of parkland, Dundrum House dates back to 1730 and includes an 18-hole golf course designed by Phillip Walton.

The hotel's financial results for 2011 show net debt of more than €16 million, and an operating loss of €477,022.

BoSI, which has exited the Irish market, currently has £9.22 billion worth of impaired Irish loans on its books and was one of the biggest lenders to the country's hospitality industry.