What a recovery!
Well for some folk that is, The owners behind the Ritz-Carlton have had their palace sold for a tiny 1 Million and all of their 80 million debt wiped!
Isn't it nice that the average Joe has to jump through hoops to get 50 grand of debt wiped with the banks blessing, but the very people who were the architects of the destruction of the Celtic tiger can have 80 million wiped just like that!
It would also be interesting to know who gives their blessing to having millions of debt wiped just like that, and who allowed a property worth far more than 1 million to be sold for such a low sum and to who!
Its a great recovery, for some.
Ritz sold forThe Sunday Independent has confirmed that the 200-room resort "showcasing Palladian-style architecture" and which has two championship-calibre golf courses and a Gordon Ramsay signature restaurant has been sold for 1m and had all of its estimated 80m debts wiped.