The Tanaiste is to meet with the owners of the Clonakilty based O'Donovan's hotel after they raised the plight they're facing after the loan on their hotel and other properties was sold to so called "vulture funds".
Local TD Christopher O’Sullivan has been to the forefront of raising the difficulties that the family are facing and their treatment by Everyday Finance which they say has been a very negative experience so far
The family took a €1.2m loan over a 30 year period with AIB in 2007 and have met their repayments each month, however about 4 years ago the loan was sold to Everyday Finance.
The family say they initially queried why Everyday Finance were not withdrawing their monthly repayments and say the company now want a lump sum payment on the loan rather than long term finance and they cannot afford to meet the demands being set by Everyday Finance.
The matter was first raised the matter in the Dail about a month ago and now the local community is rowing in behind the family as they want to help save the town centre hotel.
Tánaiste Micheál Martin is to visit the hotel to hear first-hand the family’s experience.
