Developers walk away from €1.5bn Nama debt
Average debt write-off of €19 million each
Nama has allowed 80 major property developers walk away from €1.5 billion worth of toxic debt, new figures reveal.
The write-off is equivalent to almost €19 million for each of the developers. The latest numbers show a marked acceleration in debt forgiveness for the agency’s debtors.
In mid-April last year just 23 had been granted a write-down, with the total amount being written off reaching €300 million.
This means that €1.2 billion worth ...
