Ramada Portrush hotel legal action dropped

Nama appointed administrators to the 69-bedroom Ramada hotel in Portrush, County Antrim

Legal action has been dropped over a decision to appoint administrators to the Ramada hotel in Portrush.

The administrators said it means they will continue to operate the hotel, which employs around 50 staff.

It had formerly been run as part of the Kennedy Group, which was unable to meet a demand to repay £48m of bank loans.

The Irish Republic's National Asset Management Agency appointed administrators, but the Kennedy Group sought to challenge that.

However, the administrators, RSM McClure Watters, said that after legal discussions it was now accepted that their appointment was valid.

"Business has continued to trade as normal with operations fully maintained and all bookings honoured which is in line with the commitment we gave at the outset of this process," they added.