No, this isn’t déjà vu or a duplicate of yesterday’s blogpost on Pat Shine’s UK bankruptcy. In the Sunday Times today – not available online without subscription – it is again Gavin Daly who reports on the latest NAMA bankruptcy. 56-year old Derek O’Leary who was a close associate of another NAMA bankrupt Reginald Tuthill, was declared bankrupt in London on 7th January 2013. His Irish address is given as Oakmount The Birches Foxrock Dublin 18 Ireland though he is said to be presently trading from 62 Cubitt Building, 10 Gateliff Road London SW1W 8QL.
In July 2012, NAMA had receivers appointed to a slew of companies controlled by Derek. NAMA has also gone to the High Court against these companies and against Reg Tuthill and Derek O’Leary personally, and in its recent quarterly report, NAMA said “the relief sought by NAMA” was judgment against the First, Second and Third Named Defendants in the sum of €90,400,097.64 and Judgment against the Fourth Named Defendant in the sum of €25,170,878.17
The record on here is that 22 NAMA developers have now been declared bankrupt in the UK, but this may be an underestimate. Attempts are underway with the British Insolvency Service to get a comprehensive list of Irish developers who have been declared bankrupt in the UK. For the time being, this is, I believe, the best we have, a record compiled on here.