NAMA has receivers appointed to two new companies

Yesterday’s issue of Iris Oifigiuil is still not online, but a copy has been kindly provided by the Office of Public Works and can be downloaded here. It reveals that NAMA has had receivers appointed to two new companies

1. O’Shea’s (Cork) Limited, directors Patrick O’Shea (76), Michael O’Shea (44) On 18th January, 2013, NAMA had Stephen Tennent and Gearoid Costelloe of Grant Thornton appointed as receiver to assets subject to a loan between AIB and O’Shea’s.

2. Oyster Developments (Cork) Limited, directors Sheila Crowe (57), David Crowe (56) and owned by Oyster Developments Limited (91%) and David Crowe (4.5%) and Sheila Crowe (4.5%) – Oyster Developments is owned by owned by David and Sheila Crowe. On 18th January, 2013, NAMA had Stephen Tennent and Gearoid Costelloe of Grant Thornton appointed as receiver to assets subject to a loan between AIB and Oyster. Last October 2012, NAMA obtained €24m judgments in Dublin’s High Court against David Crowe and Oyster.

Remember you can see the list of NAMA’s enforcement actions here and in this regularly updated spreadsheet.