Lender takes back troubled Irish courses

Two Irish courses have been taken over by the lender after running into financial difficulties.
 
Tulfarris House and Golf Resort in County Wickow was placed into receivership by Anglo Irish Bank. The bank reportedly is owed about €25 million by the owner, developer Paddy Kelly.
 
The 200-acre Tulfarris House property includes the golf course, a 60-bedroom hotel and amenities.
 
Anglo Irish also has appointed a receiver for another golf property, the €50 million Blarney Golf Resort in County Cork. Kelcar Developments, which owns the Blarney project, owes the bank an estimated €20 million.
 
Blarney includes a John Daly-designed golf course, a four-star hotel and conference center and a number of holiday cottages.
 
The course has been on the market since last fall for €20 million, but no buyers have emerged.  

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