Wednesday 26 April 2017

Firm controlled by Carroll upbeat on NAMA

Donal O'Donovan

Donal O'Donovan

An investment company controlled by controversial developer Liam Carroll said it was hopeful that the National Asset Management Agency (NAMA) would approve its business plan and work alongside the group.

In a statement dated July 14 of this year, Bloomburg Limited said: "Initial communications between NAMA and the group supports the directors' belief that NAMA will work alongside the group's other banks to provide support to the operations of the group."

However, it said NAMA had yet to give formal approval to the business plan.

The directors of Bloomburg are listed as Liam Carroll, John Pope and David Torpey.

The statement is included in annual accounts filed with the Companies Registration Office for 2009. The accounts reveal that Bloomburg had no turnover in 2008 or 2009.

It did generate some income last year, however. The figures show that the company disposed of financial assets worth close to €26m over the course of 2009. It netted a profit of €10.6m from the sales. It also had dividend income of €3m.

That income means Bloomburg made an operating profit of €13.57m in 2009. It made a loss of €63m the previous year thanks to a €67m writedown in the value of financial assets.

Liam Carroll's Zoe Group property development empire collapsed into insolvency last year, owing banks more than a €1bn.

Irish Independent

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