University of Limerick president Kerstin Mey to resign

She had been under intense pressure since it emerged in March that UL overpaid €5.2 million for 20 student homes two years ago.

However, the new valuations were carried when the deal was reviewed in the light of concern about the transaction within the governing authority and UL’s executive management. The increase was attributed to a rent arrangement that was not mentioned in the contract. The price was later discounted by €540,000 after a “take it or leave it” proposal from the developer.

The Rhebogue affair led a big majority on a committee that advises the president – which Prof Mey herself chairs – to say she should consider her position.

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