NAMA’s enforcement action shows no sign of let-up in 2013, with yesterday’s edition of Iris Oifigiuil revealing that the Agency has had receivers appointed to assets at another slew of companies.
First up is HP McCabe Construction Limited to which NAMA had Jim Hamilton and David O’Connor of BDO appointed statutory receivers of certain unspecified assets of HP McCabe Construction Limited on 11th March 2013. The directors are Pauline McCabe (38) and Helen McCabe (41). It is owned by John McCabe (10%), Angela McCabe (10%), Helen McCabe (10%), Pauline McCabe (10%), Sandra McCabe (10%), Alicia Daly (8.3%), Anne Daly (8.3%), Karina Daly (8.3%), Lorna Daly (8.3%) and Nadine Thompson (8.3%). In February 2013, there was some drama in Judge Peter Kelly’s court when NAMA had receivers appointed to the 8.38 carat ring owned by John McCabe’s wife, Mary. NAMA has already sued the McCabes in Dublin’s High Court and obtained judgments reported to be close to an overall total of €300m.
Secondly, NAMA had Mr. Declan Taite and Mr. Sean Kelly, both of RSM Farrell Grant Sparks Chartered Accountants appointed as statutory receivers to certain unspecified assets of Thomas S Joyce and Sons (Castlebar) on 8th March 2013. Its directors are Thomas Joyce (59) and Patricia Joyce. The company is owned by Sol Developments Unlimited. Back in 2011, NAMA obtained an injunction from Judge Kelly stopping the Joyces transferring a 2.5% interest in a property on Kings Road in Chelsea, London to their children.
Lastly, NAMA had Gerard Lyons of Deloitte & Touche appointed as receivers to certain unspecified assets of Loughmore Developments Limited on 13th March 2013. Its directors are Denis O’Connell (54) and Kady O’Connell (23). The Limerick-based development company is owned by Denis O’Connell.