Belgian bank KBC has taken a case to the Irish high court asking for the wind-down of troubled developer Treasury Holdings and 15 related companies.
Treasury Holdings owes KBC €75m (£58.7m) relating to the Spencer Dock development in Dublin. KBC funded 25% of the project via a banking syndicate including AIB, Anglo Irish Bank and the Bank of Ireland, whose loans were absorbed by Nama.
The case will be heard on August 8.
Treasury Holdings has around €2.7bn worth of debt, of which €1.7bn has been taken on by Nama.
Sohia.Furber@estatesgazette.com
