In February last year, NAMA had Grant Thornton appointed as receivers to Greenband Investments Limited, a company controlled by Limerickdeveloper (and solicitor) Paul O’Brien – photographed here and here – and Mary Moran. Today the Limerick Leader is reporting that NAMA has had statutory receivers appointed to three more companies associated with Paul – Kilminchy Holdings, Mount Kennett Investment, M.K.I. Property Investments. Paul has apparently issued a statement in which he says his legal practice, “McMahon O’Brien is in no way affected by matters between NAMA and Mr O’Brien” and that Paul will now be focussing on work at the legal practice. He will have his work cut out because, according to the Limerick Post, his partner at his own law firm Denis McMahon is presently remanded on bail relating to fraud charges with the case set to be heard this Wednesday 25th January at the Limerick District Court. Denis McMahon’s solicitor is said to have told the court that the charges would be “vigorously and fully contested and defended” McMahon O’Brien came to national prominence for all the wrong reasons in 2005 when having admitted overcharging victims of institutional abuse, a judge in a separate case involving a property dispute said of Paul O’Brien “to say that I found Mr O’Brien’s understanding of the law of his obligations under the law of solicitor and client, the law governing trusts and company law, extraordinarily unusual and difficult to believe, is as charitably as I can express my view”
This latest NAMA receivership is not yet recorded in the State official publication, Iris Oifigiuil. Remember you can see a comprehensive list of Irish foreclosure actions by NAMA here and in this regularly updated spreadsheet.
UPDATE: 7th February, 2013. RTE is this afternoon reporting that Denis McMahon has been acquitted of the fraud charges referred to above, upon direction by the trial judge on the second day of the trial. Denis had always denied the charge.