Monday 24 July 2017

Cork builder and property developer Michael O'Flynn (59) makes it onto the Rich List this year because he has exited Nama, after a bruising battle to refinance his €1.1bn loans through private-equity group Blackstone.

The O'Flynn empire was divvied up as part of the deal, with the Ovens man retaining most of the group's Irish development assets and Blackstone getting the rest. He's now in the process of re-entering the housebuilding business with gusto. O'Flynn was in the minority in Nama as he hadn't given personal guarantees for his company's loans.

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