Cerberus subsidiary collects €914,000 on loans before wind-up

Irish-registered Cerberus subsidiary Promontoria Ram 2 collected £785,031 on British property loans last year, figures show. Photograph: EPACerberus subsidiary Promontoria Ram 2 collected about €914,000 on loans last year in advance of a likely liquidation.

The Irish-registered company took over a group of British commercial property that its parent, vulture fund Cerberus, bought from the Co-Operative Bank in 2016. Accounts recently filed with the Companies Office show that it collected £785,031 on the outstanding debts last year. In January, the company paid off a £35.1 million loan from Citibank used to buy the assets in 2016. It also repaid one of several interest-bearing loans from its parent in February.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Credit Suisse accepted suspicious invoices for $140m Greensill loanCredit Suisse accepted suspicious invoices for $140m Greensill loan via IrishTimesBiz Unbelievable. Administrator will get to the bottom of it no doubt
Source: IrishTimesBiz - 🏆 6. / 77 Read more »