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A fund is seeking judgment for more than €61m against Balmoral International, a property company linked to the McCann family, who are best known for their involvement in Fyffes and Total Produce. Balmoral was created when property assets were spun out of Fyffes in 2006.
The fund, Everyday Finance DAC, is seeking judgment for €33.4m and £26m (€28.3m) against Balmoral International Land Ltd., Stokes Place, Dublin, and 50 subsidiaries which it says each acted as guarantors on the loans.
Originally, loans totaling €300m were issued by AIB before being restructured in 2015.
In December 2019, two of the four loan facilities had been fully repaid but around €60m remained outstanding.