Bank pursues developer for €88m

Kildare-based developer Dominic Fagan is being pursued by Bank of Scotland for about €88m over personal loans and his guarantees of loans to two property companies.

The action against Mr Fagan, Blackhall, Clane, Co Kildare, was transferred to the Commercial Court yesterday by Mr Justice Peter Kelly, who listed it for hearing in December.

Mr Fagan’s Fagan Group is said to have total liabilities of €98m. An examiner was appointed by the High Court to one company in the group, the Clane Inn Ltd, last July, despite the bank’s objections.