22/08/2011 by Buildington
Allied Irish Banks AIB has taken control of the building as part of a move against property investor Liam Smyth.
The bank has appointed a property receiver over the six storey building with offices and shops (FCUK and Jane Norman). Smyth bought the building in 2009 for almost £60 million with loans from AIB. It is expected to be put on the market for around £80 million, as AIB seeks to recoup what it is owed.
Source: The Post http://www.sbpost.ie/news/ireland/aib-takes-over-oxford-street-fashion-b uilding-58175.html