No sign of any let-up in NAMA’s foreclosure activity as we enter the Season of Goodwill. Today’s Iris Oifigiuil reveals that the Agency has had receivers appointed to some assets owned by two related Cork property companies.
On 17th December 2012, NAMA had Aiden Murphy of Crowe Horwath appointed receiver to certain assets – not specified in today’s Iris Oifigiuil – on foot of lending originally from AIB, to the following two companies:
(1) Kivazza whose directors are Roy Murray (42) and Donal Crowley (55). The company is 100%-owned by Coleman Brothers (Developments) Limited.
(2) Coleman Brothers (Developments) Limited whose directors are Roy Murray (42) and Donal Crowley (55) and is owned by John Coleman (50, 50%) and Michael Coleman (51,50%)
Although the assets to which receivers have not been specified, the Colemans are perhaps most associated with the €650m Stoneview development of 1,500 homes and retail park, which stalled in 2009.