Although NAMA’s enforcement action appears to relented in recent weeks, there is still a trickle of receiverships. We learn today that NAMA has had receivers appointed to Newell Construction Limited, a county Galway construction and development company controlled by husband and wife, Marian and Patrick Newell. On 28th May, 2012, NAMA had Kieran Wallace of KPMG appointed as Statutory Receiver over the assets of the company.
Newell Construction has been in trouble for some time, with Anglo Irish Bank, now part of the Irish Bank Resolution Corporation having receivers appointed to half-built residential developments in Tuam and Headford, both in county Galway in pursuit of a €20m loan and this was back in 2010.
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
Any chance of getting an updated breakdown of the current bail out fund?
it would be interesting to see how quickly we are getting throught it and where the money goes.
@David, we have received about €47bn of the €67.5bn external bailout. About €17bn went into the banks. Overall we have a cash balance of about €20bn but that might be partly tax receipts, and mightn’t be from the bailout.
http://ntma.ie/Publications/2012/Funding_of_Exchequer_Bal_Q1_2012.pdf