Property decline led to asset write-down by College of Surgeons

“The Royal College of Surgeons in Ireland wrote down its net assets by €72 million in 2008 – a fall of 44 per cent on the previous year. In its annual report, the RCSI, which is a non-profit organisation, said the decrease was mainly due to the fall in the market values of ‘‘investment properties, an increase in the pension deficit and the operating deficit for the year’ …” (more)

[Susan Mitchell, Sunday Business Post, 3 January]

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