Names of top 10 borrowers in first wave of Nama transfers

[grumpy]

ANGLO IRISH Bank will transfer close to €10 billion in loans into the National Asset Management Agency (Nama), accounting for the largest amount owed by the top 10 developers moving to the agency in the coming weeks.

The Irish Times has established the identities of the top borrowers being moved in the first wave of transfers to the State agency.

They are developers Liam Carroll; Bernard McNamara; Sean Mulryan of Ballymore; financier Derek Quinlan; Paddy McKillen, owner of the Jervis Street Shopping Centre; Treasury Holdings, which is owned by Johnny Ronan and Richard Barrett; Cork developer Michael O’Flynn; Joe O’Reilly, the developer behind the Dundrum Shopping Centre in Dublin; Dublin builder Gerry Gannon, co-owner of the K Club golf resort in Co Kildare; and Galway businessman Gerry Barrett, owner of Ashford Castle in Co Mayo and G Hotel in Galway.

More than €16 billion in loans linked to the top 10 are being moved to Nama out of a total of €80 billion being transferred.

irishtimes.com/newspaper/fro … 15434.html

No surprises.

[FAUGH45568]

Is there a chance that any politicians could be on future lists…?

Over 5m isnt it to qualify…???

[colsku]

@FAUGH45568

Is there a chance that any politicians could be on future lists…?

Over 5m isnt it to qualify…???

I’m sure they set the threshold high enough so that no politicians would have to included on the lists

[Puck_may_be_Famous]

How many of the ten were also in the ten who bought the anglo shares with non-recourse loans?

[InForADime]

@Puck may be Famous

How many of the ten were also in the ten who bought the anglo shares with non-recourse loans?

I think Anglo ten were more mid-tier folk.

ETA: Scratch that, Joe O’Reilly was one anyway…

[ncallanan]

They kinda wrote them a month ago

The Irish Times - Friday, January 15, 2010The good, the bad and the ugly

SIMON CARSWELL Finance Correspondent
Among the first who, with Mr McNamara, will see their loans move to Nama are the Johnny Ronan and Richard Barrett-backed Treasury Holdings; Liam Carroll; Seán Mulryan and his company, Ballymore; Dublin housebuilder Gerry Gannon; Castlethorn’s Joe O’Reilly, developer of the Dundrum Shopping Centre; and Michael O’Flynn of O’Flynn Construction in Cork.

Other large developers moving to Nama in the coming months are Jervis Shopping Centre owner Paddy McKillen, property financier Derek Quinlan, Cork businessman John Fleming, developer John Flynn and hotelier and shopping centre owner Gerry Barrett.

irishtimes.com/newspaper/fin … 73396.html

[flash]

@InForADime

@Puck may be Famous

How many of the ten were also in the ten who bought the anglo shares with non-recourse loans?

I think Anglo ten were more mid-tier folk.

ETA: Scratch that, Joe O’Reilly was one anyway…

and Gerry Gannon

[nolai90]

Does the NTMA own jervis shopping centre and Ashford Castle Group now.
Are the the assets going to pay for the interest on the Developer loans.