Friday June 5, 2020

Tycoons: Rise and fall of a reclusive tycoon

How did Liam Carroll, the corporate raider who had built a €1 billion fortune from a series of canny deals, see his business empire come crashing down around him so quickly? And just how did a Dutch-owned minnow, ACC Bank, bring down the country’s largest developer?

1st October, 2017
Liam Carroll: left exposed when the financial tide went out in late 2008 Pic: Courtpix

Liam Carroll was something of a one-man property corporation. Regardless of whether you were a first-time buyer, a multinational corporation or a local authority, Carroll could cut you a deal or find you a property.

Apartments? He had built thousands of them across Dublin, many of them small, one bedroom, so-called ‘shoe-box’ flats in the centre of the city.

Offices? He had built scores of expansive office complexes, either selling them or leasing...

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