Monday 25 September 2017

Four property developers called to appear before the Banking Inquiry

Michael O'Flynn
Michael O'Flynn
Peter Flanagan

Peter Flanagan

Four of the biggest players in the property market have been called to appear before the Banking Inquiry.

The Inquiry has notified developers Sean Mulryan, Michael O’Flynn and Joe O’Reilly to give evidence, along with financier Derek Quinlan.

Mr Mulryan’s Ballymore Properties was one of the biggest names in Celtic Tiger property, and has since gone on to run several projects in the UK and in Dublin. It is said to be on course to exit Nama later this year.

Michael O’Flynn was behind the likes of the Elysian Tower in Cork along with many other properties. Earlier this year Mr O’Flynn resolved a row with private equity giant Blackstone over the future of his O’Flynn Construction business.

Joe O’Reilly’s Chartered Land meanwhile developed the likes of Dundrum Town Centre and the 4 and 5 Grand Canal Square office blocks, now rented by Facebook for their European HQ.

Mr Quinlan was one of the faces of the Celtic Tiger. Through his Quinlan Private firm he specialised in assembling consortiums of investors to buy property. Last week he was back in the headlines after he and the Barclay brothers sold their interest in three of the most prestigious hotels in London.

The Inquiry has yet to confirm when the four men will appear

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