Bailey brothers pay Revenue €25m

The two brothers who run Bovale developments have confirmed they have made a settlement with the Revenue Commissioners which is understood to be in the region of €25m.

The payment is bigger than any other settlement published by the Revenue Commissioners.

In a statement, brothers Tom and Michael Bailey say they have reached a 'full and final' settlement and that they have co-operated fully with the Revenue Commissioners. It adds that they will not be making any further comment.