Jim Treacy, the owner of Lough Erne Resort which was plunged into administration last week has described the whole situation as "immoral".

In an in-depth exclusive interview with the Impartial Reporter, the man who has invested £10m of his own money into the five star resort has questioned how the Bank of Scotland (Ireland) can call in the administrators when the business is showing a £600,000 operational profit in only its third year of business (2011).

Mr Treacy, who also held a meeting with Enterprise minister Arlene Foster on Tuesday night at the Lough Erne Resort, accused the Bank of Scotland of simply "trying to get their money and getting the hell out of Ireland" with no thought for the long term viability of the project.

Mr Treacy has also hit out at a local landowner, claiming an issue over an unsigned lease proved a stumbling block in putting together a deal to secure the long term future of the business. It was a "wounding blow".

He says that he has started legal proceedings over the non-signing of the lease.

Mr Treacy has been working for the last 18 months on a refinancing package which could be put to the exiting Bank of Scotland, and says that he was taken totally by surprise by the move to appoint administrators.

"I did not know this was coming down the line, because the Bank of Scotland closed all their businesses in the Republic of Ireland, we were working to get the business to the Bank of Ireland in the south which they had agreed and it was taking a bit longer to finance the business. But at the same time they (The Bank of Scotland) had it parcelled up in a different direction because the Bank of Scotland is only interested in getting its money." Speaking frankly on Tuesday, a visibly angry Mr Treacy added: "Since last week, KMPG are going to try and perfect all that security of land and I am in there backing and fighting to recover what is rightfully mine and I will be fighting tooth and nail to recover it. Something like this is immoral and wrong to get to where it is at the moment. The whole place cost £40m of which I have personally invested £10m and there is £3.5m of government money. That leave £25-26m owing, with £5m worth of houses there built and ready to be sold 23 houses which would generate £4-5m.

"That would leave £20million which is not a massive figure for two golf courses, a Faldo designed course, a five star hotel and one of my businesses is tied in because I gave a cross guarantee.

"So it is ironic that somebody from here like myself has tried to do good, employing 150 people and ends up in a mess like that. The profitability of the business this year, 2011, will make £600,000 operational profit which is profit before bank interest etc, so it is operating at a profit but we are dealing with a whole differnet set of rules than there was in 2008. The Bank of Scotland are only interested in getting their money and getting the hell out of Ireland and they have no interest in our long term plans." A defiant Jim Treacy also confirmed that he will be doing everything in his power to get back the business that he feels is rightfully his.

"The administartors will be in for a while and business will trade on as good as it can, I will be in there making my presence felt and getting myself organised to get the business back to me. I am 100 per cent sure that I can do it apart from some devious measure from some higher sources. I think they (the administrators) will deal with me, I am a reasonable. I will be doing everything in my power to gain back what is rightfully my mine, I believe in morals, personally it is disgusting." But he admits that it could be all taken away from him.

"The worst case scenario is it could be taken away from me and ruin my businesses elsewhere. But I am in for the fight I am not hiding and I am up for it." Enterprise minister Arlene Foster met with Jim on Tuesday night and expressed her concern that administrators could be appointed to a business showing a profit.

"I had a meeting with Jim and as Enterprise Minister, I am concerned that the Bank just closed the door on a business showing a profit this year. It is a very successful tourism product that we are all very proud of and I will be meeting the administrators today (Thursday) in Belfast and seeking assurances as to how this five star resort will be run in the coming weeks not only for the interests of the bank but also tourism and for those curerently employed," said Mrs. Foster.

"Of course, as a local MLA, I will be supoorting Jim in his fight to regain Lough Erne Resort."