The owner and operators of Druids Glen golf course in Co. Wicklow said on Tuesday that they have successfully exited examinership, following agreement between the parties involved.
Last month, the High Court approved the appointment of an interim examiner to Lakeford Ltd and Druids Glen Golf Club Ltd, following the decision of Gulland Property Finance to appoint a receiver on the grounds that it was owed € 4.85 million. Gulland acquired the loans from IBRC.
“All matters have now been resolved between the parties,” a statement said, in which the board acknowledged the support of their primary funder, AIB. All debts due to preferential and trade creditors including the Revenue Commissioners, are being discharged in full, the statement said .
The course, which employs 36 people, has previously hosted a number of Irish Open Golf tournaments in the 1990s and in 2002 the Seve Trophy, the competition where Ireland and Britain’s top professional men’s golfers take on Continental Europe’s top players.
Druids Glen Hotel and Golf Resort, consisting of the hotel, leisure, conference and banqueting facilities and the Druids Heath golf course, are owned by a separate company and were not affected by the process.
