It may be the holiday season but NAMA continues with its foreclosure action. According to today’s edition of Iris Oifigiuil, on 21st August, 2012 NAMA had George Maloney of Baker Tilly Ryan Glennon appointed as receivers to South County Developments Limited, a Dublin-based developer owned by Colum Butler and a company called Bucart Limited, a company in which Ciaran Butler is a director and which is in turn 100% owned by Astrofel Properties Holdings.
Brothers Ciaran and Colum Butler are best known for their operation of the Leisureplex chain which includes bowling alleys in Tallaght, Blanchardstown, Coolock and in Stillorgan in Dublin as well as one in Cork city centre, and have worked with other well-known developers like Bernard McNamara in the past. There is no suggestion that any company other than South County Developments Limited has been affected by the receiver appointment.
Remember you can see a comprehensive list of Irish foreclosure action by NAMA here and in this regularly updated spreadsheet.
