Roscommon/South Leitrim Fine Gael Deputy, Frank Feighan, has told the Leitrim Observer he is confident of a positive outcome after Bank of Ireland began legal proceedings against him on July 30 over a loan.
Mr Feighan said that the loan related to the family business in Boyle. Deputy Feighan grew up above his parents’ corner newsagents and he agreed to guarantee a commercial loan when the business needed a capital injection over the last few years.
This has left him exposed to a debt in the region of €300,000. Despite the loan the business stopped trading in January 2011.
Deputy Feighan said that he believed a positive outcome would result from discussion with the Bank of Ireland on the matter.