High Court ReportersA billionaire Swiss-Lebanese owner of a Co Kerry hotel and islands is contesting a High Court application seeking judgment for more than $192 million (€175 million) on behalf of private lenders. Mr McCullough said the lending agent tried to accommodate Mr Safra and SMV by making a “series of allowances”. However, after Mr Safra defaulted on a third forbearance agreement, his client used his affidavit of confession to obtain the $192 million judgment. In legal papers, MCG says it has “acute concerns” Mr Safra’s assets are reducing in a manner not fully explained. Lawyers for Mr Safra and SMV are due to make arguments against MCG’s application on Friday.

Source: The Herald November 09, 2023 20:11 UTC