Fermanagh Developers owe Ulster Bank £7m

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A Fermanagh property development firm which was placed in administration in August owes Ulster Bank more than £7m.

The details are contained in the administrators report on Lough Shore Developments, which was based in Duross, near Irvinestown.

The firm had been planning to build a six star hotel and marina at a 34-acre site at Ball Hill in Donegal.

The administrator is yet to value the site and the firms assets so it is unclear how much the bank will recover.

The other assests are 27-acres at Kilear in Donegal where the firm had planned to build holiday homes.

It also owned a house at Inver in Donegal.

Its Fermanagh properties are a site a Duross Point which consists of one finished holiday home, a partially-completed holiday home and plans for four more homes.

There is also a six-acre site in Maguiresbridge and an apartment in Enniskillen.

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