We don’t hear much about Galway developer, James Clancy these days. We say “developer” but James has had his finger in many pies over the years. Back in 2009, when the creditors started closing in after the collapse of the property sector, he was the man who famously told Judge McGovern in Dublin’s High Court that he had been “living on fumes” since 2007. He is the man who brought the Emmedue building material franchise to Ireland, had promoted plans to build a factory in Portarlington in Laois to manufacture the panels, though those plans were never fully realized and there has been a bit of an easter egg hunt to locate the machinery. James was behind the development of the infamous Riverside estate in Portarlington where substandard building made life a nightmare for residents. In 2010, James was jailed for 14 days for contempt during legal action when ACC Bank was trying to recover a debt. There was some rough stuff when creditors tried to recover debts. But he has not hitherto been associated with NAMA, despite it being reported that he had loans from Anglo.
This afternoon’s edition of Iris Oifigiuil reveals that NAMA has had receivers appointed to two of his companies. In both cases, the receivers were appointed on 19th April 2013 and the receiver is David O’Connor of BDO. Both companies are already subject to receiverships so this is presumably just NAMA laying claim to the security underpinning its loans. James’s wife is Sarah.
(1) Clanview Construction Limited. Sole director James Alphonsus Clancy (58)
(2) J&S Property Developments Limited. Directors James Alphonsus Clancy (58) and Sarah Clancy (55)