NALM entitled to £840,000 investment proceeds of boom-era developer Bernard McNamara

The former Fianna Fáil councillor was one of the biggest developers at the height of the boom, acquiring major hotels including the Burlington in Dublin and 50 properties in Dublin 2.

The trustees asked the High Court to determine whether the investment proceeds should go to the NALM, under its alleged security entitlements arising from the 2007 loan, or be retained in the estate of bankruptcy of Mr McNamara for the benefit of his creditors generally, of which the NALM is by far the largest creditor.

Ms Justice Roberts found that the entire investment proceeds were validly charged to Anglo, and now to the NALM, by virtue of undertakings given in 2007 on behalf of Mr McNamara and SF Capital.

Россия Последние новости, Россия Последние новости

Similar News:Вы также можете прочитать подобные новости, которые мы собрали из других источников новостей

FBD says investment returns positive after €100m hit last yearInsurer says capital levels have grown and it remains ‘engaged with stakeholders on the return of excess capital’ via IrishTimesBiz
Источник: IrishTimesBiz - 🏆 6. / 77 Прочитайте больше »

Italy intends to exit investment pact with China as relations sourItaly is the latest European state caught in escalating tensions between Washington and Beijing, which have compounded by Beijing’s support for Russia
Источник: businessposthq - 🏆 8. / 71 Прочитайте больше »

Italy intends to exit investment pact with China as relations sourItaly is the latest European state caught in escalating tensions between Washington and Beijing, which have compounded by Beijing’s support for Russia
Источник: businessposthq - 🏆 8. / 71 Прочитайте больше »

Mars Capital to create 100 new finance jobs in Dublin city centreGroup’s parent Arrow Global is also planning ‘significant investment’ in Ireland across a range of sectors
Источник: IrishTimesBiz - 🏆 6. / 77 Прочитайте больше »