The Borrowers

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Irish Bank Resolution Corporation’s biggest borrowers have six months to refinance their loans or face having them sold to a third party or transferred to the National Asset Management Agency.

The bank’s high-profile clients include telecoms and media businessman Denis O’Brien and property developer Paddy McKillen, who is battling the Barclay brothers for control of some of London’s best-known luxury hotels.

About €15 billion of loans that remain on IBRC’s books have been taken over by the special liquidators, Kieran Wallace and Eamonn Richardson of KPMG, appointed by the Government. They will seek to get full current value for these loans by the middle of this year.

Cheques in the post ahoy.

Bank’s biggest borrowers face Nama deadline (Ciarán Hancock, Irish Times)

(Pix: Yui Mok/PA Wire, Wanderley Massafelli/Photocall Ireland)

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