Rising property prices may help councils finish estates

The upturn in the economy may help 5,000 people living in unfinished estates even more than legal threats against financial institutions which have an obligation to complete works to them.

Cork County Council has signalled it will take financial institutions to court if they fail to hand over money in insurance bonds designed to finish off estates if a developer went bust.

The council’s chief planner, Andrew Hind, has said that AIB officials had since met a couple of times with council staff after their chief executive Tim Lucey threatened legal action against the bank last June.