The INQUISITOR

Non-viable hotels are likely to be next in Nama’s sights

20th November, 2010

The decision by the National Asset Management Agency (Nama) to move against Bernard McNamara’s building company is likely to be followed by many other orders taking control of developers’ businesses.

The appointment of a receiver to Michael McNamara and Co builders was triggered by Nama’s decision to reject the developer’s primary business plan.

There are big fears among developers about who will be next.

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