Tony O’Reilly hit by €22m ruling

Ireland’s former richest man Tony O’Reilly is insolvent, AIB has claimed in court. The lender secured a €22m (£17.6m) ruling against the businessman, who plans to sell his Castlemartin estate to pay the bill. But his total debts amount to €195m. O’Reilly has requested a six month delay on the ruling in an effort to raise more money from the sale of his assets. He used to be chief of Independent News and Media and is not contesting the debts.