Belfast Telegraph

Tuesday 23 September 2014

Bank of Ireland sues Celtic boss Neil Lennon over property deal

Celtic boss Neil Lennon is being sued for almost €3 million (£2.6m) by Bank of Ireland.

The former Northern Ireland international is at the centre of legal proceedings following a failed property venture in Dundalk that has already cost him €600,000 (£526,400).

Lennon had put significant money into a development company, Rocket Developments, which went to the wall in December.

The new Celtic caretaker manager is being sued by Bank of Ireland after plans to build 61 houses in Knockbridge, Co Louth, in 2006 fell through when Louth County Council refused to grant planning permission.

The six-acre site was never built on after the planning application was refused and its value has now crumbled from €3m (£2.6m) four years ago to just over €300,000 (£263,300) now.

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