Developer ‘healthy’ despite receiver

CORK developers Murrayforde say the company is in a healthy state despite the appointment of a receiver.

Murrayforde is the developer behind the €120 million hotel and apartment quayside complex planned for Kyrl’s Quay near Cornmarket Street in Cork.

However, a notice has been published in which it is stated that ACC Bank appointed receivers and managers to the company.

One of the founders of Murrayforde, Tom Murray, said he could not speak about the issue as a case regarding the company and a dispute with ACC Bank is due before the High Court next week.

However, he said “everything is fine” with the Murrayforde business and the appointment of a receiver is associated with the dispute with ACC Bank.

Cork developer duo, Paul Forde and Tom Murray, have strong backgrounds in construction.

Last year, the company was granted planning permission for the €120m complex. According to Mr Murray, this development is still to go ahead.

The development of the hotel is set to create 150 jobs. It is expected to be run by the Hilton Group. A total of 80 deluxe apartments are also to be built.

ACC Bank appointed Michael Cotter and David Hughes of Ernst & Young in Cork as receivers and managers. Attempts to contact Mr Cotter and Mr Hughes were unsuccessful yesterday.

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