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AIB appoint receiver to Athlone Centre

Wednesday, December 11 14:17:52

The owners of The Athlone Town Centre Shopping Centre have agreed to the consensual appointment of Stephen Tennant and Paul McCann of Grant Thornton as joint receivers by AIB.

The properties included within the Receivership appointment are the shopping centre and associated car parking, and 150 Apartments which have been successfully rented out.

All shops at the centre will continue to trade as normal.

AIB is the only secured lender to the shopping centre's owner, headed by ATC Property Holdings.

The centre's backers are closely associated with accountancy firm Russell Brennan Keane (RBK). ATC shares its registered office with the practice on 96 Lower Baggot Street in Dublin, while RBK partner Tom Donohue is a shareholder in the shopping mall's holding company.

ATC's other shareholders include businessman John O'Sullivan and his family from Kiltoon, Co Roscommon, and James Keane and his family, from Athlone.