A MODERN mixed-use investment building in Cork’s Carrigaline has been sold for around €2 million, acquired by an Irish investor via a competitive bid process.

A High Court ruling has significant implications for Ulster Bank’s efforts to recover debts in Ireland.

Developer Sean Dunne failed to persuade the US bankruptcy judge to bar Ulster Bank Ireland Ltd from initiating a parallel bankruptcy in Ireland.

Ten people involved in property partnerships have sued Ulster Bank Ireland Ltd and First Active plc over the alleged mis-selling of derivative agreements or swaps to hedge “notional liabilities” for more than €65m.

BANK of Ireland Plc and Irish Life & Permanent Plc had their credit ratings affirmed by Standard & Poor’s, along with two other banks, and were given negative outlooks.