Today’s edition of Iris Oifigiuil reveals that NAMA has had receivers appointed to two more companies in the Howard Holdings group, the property company controlled by Greg Coughlan, the Cork man who has reportedly fleed from the state. On 15th March 2013, NAMA had Kieran Wallace of KPMG appointed to assets of Farsha Limited and Alleyquay Investments Limited.
The directors of Farsha Limited are Jason Clerkin (42) and Alan Morris (45) and the company is 100% owned by Howard Property Ireland Limited. The directors of Alleyquay Investments Limited are also Jason Clerkin (42) and Alan Morris (45) and the company is 45% owned by Greg Coughlan, 40% owned by Brendan Murtagh and 15% owned by Brian Madden and 1% owned by Howard Property Ireland Limited. Howard Property Ireland Limited is 25% owned by Brian Madden, 25% owned by Brendan Murtagh, 25% owned by Greg Coughland and 25% owned by Howard Holdings PLC.
Back in September 2012, NAMA sued Greg Coughlan and his wife Ann in Dublin’s High Court, but the case appears not to have progressed in the High Court yet. In December 2012, NAMA had Kieran Wallace appointed receiver at Fuschia Investments Limited, a Greg Coughlan company. Greg Coughlan reportedly fled the country after the courts ordered his arrest for failing to supply a statement of assets to investors pursuing him for €28m.