Irish Firm in €55m loan writeoff

A firm that is part of Galway businessman Gerry Barrett’s Edwards Holdings group recorded profits of €49.29m in 2013.

Figures lodged by Mr Barrett’s KH Kitty Hall Holdings Ltd show it recorded the profit after a writeoff of a €54.8m bank loan.

A note attached to the accounts states that the directors are working with Nama to agree a plan to trade out the assets until they can be