Friday 20 September 2019

Ladies who lunch now on Nama's books

RONALD QUINLAN

BEFORE the bubble burst, their paths might only have ever crossed at the golf club, at the races, or a charity ball.

Today, they take their places as the first official members of an altogether different elite: the Nama Wives' Club. Allow the Sunday Independent to make the introductions.

Mrs Mulryan's position as a co-director with her husband, Ballymore Properties chief Sean, of a company called Peltier Investments Ltd, sees her albeit circuitously join the ranks of the Nama wives' club.

According to Property Registration Authority of Ireland (PRAI) records, Peltier Investments availed of a mortgage with the Bank of Ireland on June 21, 2006, to assist with the purchase of a house in the exclusive Ladycastle development in the lead-in to the Ryder Cup at the K Club.

That mortgage -- and with it Bernadine Mulryan's name -- went on to the books of Nama on April 1 last.

She had already grabbed headlines as a result of her husband Gerry's decision to transfer the ownership of €12m-worth of property into her name between May 21 and December 10, 2009. Margaret Gannon's appearance on Nama's loan books comes on foot of several mortgages secured on apartments she and her husband own in Clonskeagh and Malahide, and a plot of land in Swords.

In her own right, Mrs Gannon saw the mortgages on two apartments and a penthouse she owns in Malahide transferred to Nama on April 2 last.

Mortgages on two apartments in Clonskeagh and a plot of land in Swords she owns with her husband were acquired by Nama on May 10 last, the records show.

The wife of developer Bernard McNamara makes it on to Nama's books by virtue of her joint ownership with him of a luxurious holiday home overlooking the exclusive Lahinch golf club in his native Clare.

Records held at the PRAI show the McNamaras took a mortgage with the Bank of Ireland against the property on January 31, 2006. Official records show that loan was acquired by Nama on April 1 last.

While the Quinlans may have relocated to Switzerland for "tax and personal reasons", they still maintain a fashionable bolthole at the five-star Merrion Hotel, across the road from Government Buildings in Dublin city centre.

And it's that €1m apartment on which the former Revenue inspector turned financier Derek, and wife Siobhan, took a mortgage from Anglo Irish Bank in 2005, which places Mrs Quinlan on Nama's list of clients.

According to PRAI records, Mr and Mrs Quinlan's Merrion borrowings were transferred to Nama on May 3 last.

Castlethorn chief Joe O'Reilly's decision to take out a mortgage with Anglo Irish Bank on numerous properties he owns with his wife in the south Dublin suburb of Blackrock, and apartments in the International Financial Services Centre and Upper Merrion Street, see Deirdre O'Reilly take her place on Nama's books.

According to the PRAI records, the Anglo loan, which dates back to November 27, 2008, was acquired by Nama on June 25 last.

Sunday Independent

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