O’Reilly ‘takes hit’ on care home investment

Health Minister James Reilly is one of a number of financial backers of a Tipperary nursing home who have “taken the hit” over their investment, the High Court heard yesterday when it was told agreement has been reached in a legal dispute with other investors.

The Greenhill Nursing Home in Carrick-on-Suir, with 55 residents, is to be sold by order of the court to discharge a €2.1m bank debt owed by other investors.

The court heard Dr Reilly, with three other people and co-owner/operator of the nursing home, Dilip Jondhale, were “recourse” investors in 2000 when the investment was set up which made them personally liable for monies borrowed for the project.