Saturday October 31, 2020

Ireland's family fortunes

Nama and the banks are trying to prevent developers transferring assets to their families, writes Richard Curran.

7th April, 2012
2
Sean and Gayle Dunne.

The multibillion-euro collapse of the property market has resulted in some extraordinary scrambles by developers and others to transfer assets out of their own names or company ownership and on to others, usually connected parties or family members.

Details of the extent of this practice are only now coming to light, mainly through court actions.

Bankrupt property developer Ray Grehan transferred a 19 per cent stake in a Dutch casino to his daughter last year...

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