GALWAY COUPLE SELL PUB OVER UNPAID BANK LOANS

Date Published: 05-May-2012

A Galway couple being pursued by AIB for 19 million euro in unpaid bank loans has now sold an historic family owned seafood pub.

William and Sheila Moran have sold Kilcolgan based pub, Morans On The Weir after demands to settle their debt.

The Irish Independent reports that the couple were to give 1.25 million euro from the proceeds of the sale of the licensed premises in a bid to pay off their debt.

However the Commercial Court has been told that the bank did not receive any proceeds after completion of the sale.

It’s understood the pub was sold in August last year to The Weir Trading Limited, a company which is owned by the couple and their family.