FORMER BILLIONAIRE PROPERTY developer Bernard McNamara is due to be discharged from bankruptcy proceedings in Britain today.
The property tycoon filed for bankruptcy with the UK’s insolvency service on 2 November last.
The document report from the insolvency service in the UK shows he scheduled to be discharged today.
NAMA
McNamara was one of NAMA’s biggest and most indebted developers – with NAMA appointing to the former Irish Glass Bottle site in Ringsend in Dublin which he bought in association with Derek Quinlan, for €412 million at the height of the boom.
The Burlington Hotel in Dublin was also bought up by McNamara in the height on the property bubble in 2007. The hotel recently underwent a name change following it’s sale last year for €67 million, less than a quarter of the price paid by Bernard McNamara.
Property empire
The Clare-born builder built up a massive property empire over 40 years.
The office of Baker Tilly Ryan Glennon, McNamara’s insolvency practitioner, could not be reached at the time of publication.
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