Receiver appointed to Fordmount Group with liabilities in excess of €200m

A RECEIVER has been appointed to one of Limerick’s largest property companies, the Fordmount Property Group, and its two subsidiaries, which cumulatively has net liabilities in excess of €200 million.

Billy O’Riordan, partner with PriceWaterhouseCoopers in Dublin, was appointed receiver for the company this Monday, December 14, by the lender Anglo Irish Bank.

Dozens of creditors to the Fordmount Property Group and two of its subsidiaries – Fordmount Developments Ltd and Fordmount Developments (Savoy) Ltd – received letters this week informing them of the move.