Saturday March 28, 2020

Kelly’s project debts total more than €2 billion

Businessman Paddy Kelly, who is exploring the possibility of bankruptcy, is involved in projects with total debts of more than €2 billion.

21st March, 2009

Businessman Paddy Kelly, who is exploring the possibility of bankruptcy, is involved in projects with total debts of more than €2 billion.

Industry sources said that the property developer and investor had ‘‘40-plus partnerships’’ in Ireland and overseas and was the lead promoter on many of the ventures.

They estimated Kelly’s share of the debt at ‘‘north of €500 million’’, with the rest shared among joint venture partners, including well-known names...

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