US investment bank take over Kill International Equestrian Centre

One of the world's biggest banks is taking over the Kill International Equestrian Centre in Kildare. Goldman Sachs have taken control of the the Kildare venue and Tom Kavanagh of Deloitte has been appointed as receiver for the well known equestrian base. The bank are expected to put the property on the market in the coming months. The centre has a colourful past as it hosted equestrian events during the 2003 Special Olympics, though some serious flooding back in 2011 left the venue badly damaged and it has failed to recover fully since. A dispute over an insurance claim following the flood damage has yet to be resolved, and there hasn't been a big show held at the centre near Naas since. According to a spokesperson from the centre, the riding schools and stables will continue to operate as normal during the receivership. Kill International valued its fixed assets at €6.1m at the end of June 2015, according to its latest accounts. It owed €2.8m in bank loans and a further €3.2m to founder Fintan Flannelly. Its accumulated profits fell to just over €10,000 at the end of June 2015, from almost €121,000 a year earlier.