In the year 2009, a Macquarie consortium won the bid to build six schools that were Irish under a public-private partnership programme. The work was financed chiefly with debt, with only EUR50, 000 of straight equity injected into the job.
Payments from the Irish authorities were the only source of revenue. But, the appearance of the sovereign debt crisis in Europe put the government's ability to pay in uncertainty.
PUBLICATION DATE: November 26, 2012 PRODUCT #: INS221-PDF-ENG
This is just an excerpt. This case is about FINANCE & ACCOUNTING
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