Thursday April 2, 2020

Kelly's Conundrum

Lenders have been left to worry after prolific property developer Paddy Kelly revealed in court that he is ‘exploring the possibility of bankruptcy’

21st March, 2009

Just five months ago, property developer and investor Paddy Kelly went on national radio and baldly declared that he owed ‘‘hundreds of millions’’ of euro to various banks.

For the past five days, those banks may well have been wondering how much of that money Kelly will be able to pay back. Kelly’s stark admission to the High Court last Monday that he was exploring the possibility of a bankruptcy procedure...

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