Owner of top Cork pubs bid to stop IBRC selling to NAMA

[BoyRacer]

Owner of top Cork pubs launches bid to stop IBRC selling loans to Nama → irishexaminer.com/ireland/ow … 51697.html
December 05, 2013

A consortium that owns some of Cork’s best-known pubs has initiated proceedings aimed at preventing Irish Bank Resolution Corporation selling its loans to Nama.

Benny McCabe said his companies are the largest pub group outside Dublin and their bars are among the best performing and prestigious licensed premises in Cork City, employing over 255 people with a turnover of €12m annually.

The bars are Bodega at St Peter’s Market, Cornmarket St; Sin É, Coburg St; The Oval, South Main St; Crane Lane, Phoenix St; The Mutton Lane, Mutton Lane; and Arthur Mayne’s, Pembroke St.

In an affidavit, Mr McCabe said the bars have “a thriving trade” but he is concerned IBRC is considering selling their loans to Nama prior to the hearing of his action against IBRC alleging overcharging of interest and the misselling of derivatives dating from 2006.

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‘Important issues’ raised over IBRC’s plans in Cork pubs case - → irishtimes.com/news/crime-an … -1.1618393

Action to stop IBRC selling loans of two companies adjourned until next year

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