Doherty drops €2m on ISTC collapse
Sunday November 15 2009
HARCOURT Developments' founder Pat Doherty (above), who had his portrait painted by Lucian Freud and counts Camilla Parker Bowles' ex-husband among his board members, dropped €2m on the collapse of Tiarnan O'Mahoney's ISTC.
Doherty, who donated €2,000 to Fianna Fail last year, revealed the ISTC loss in accounts for Harcourt Developments last week.
Tiarnan O'Mahoney's ISTC crumbled in 2007 with debts of about €850m as the credit crunch crippled its business. It was -- at the time -- Ireland's largest ever corporate collapse. Doherty's loss was never revealed.
- Nick Webb
Sunday Independent
