Billions in the balance

Liam Carroll’s court saga shows what will happen if a foreign bank doesn’t play ball with Nama, writes Ian Kehoe, Chief News Correspondent

19th September, 2009

The devil is in the detail - and the detail that emerged was devilish. During the course of two High Court petitions and one Supreme Court challenge, the inner workings of Liam Carroll’s complex business empire slowly became clear.

It was a business that consisted of three separate-but-connected groups, more than 100 corporate entities spread across Ireland, Britain, the Channel Islands and the Netherlands, and multibillion-euro borrowings secured from a range of domestic...

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