Bank of Ireland could lose €42m on property firm closure, says report
It has emerged today that Bank of Ireland could lose up to €42m after the collapse of a property development firm.
McDaid Developments (Ireland) Ltd was placed into administration in June.
An administrator's report showed that the Derry-based developer owed the bank more than €49m.
The administrator estimates that the sale of the firm's remaining assets will raise less than €9m, however.
