AG: No evidence loans can be repaid

PROPERTY investor Paddy McKillen has provided no evidence to show that loans of €2.1 billion to his companies can be repaid over a set period, the Attorney General has told the Supreme Court.

While the interest repayments on the McKillen loans are being met, the loans themselves are secured on property and there is no evidence the income from these are capable of financing repayment, Paul Gallagher said.

Mr McKillen had said he could readily refinance the loans and looked for time to do so but the loans have not been refinanced, Mr Gallagher added.