• McKillen defeated in Nama bid

Irish property developer Paddy McKillen has failed in his attempt to stop the country’s National Asset Management Agency acquiring Eu2.1bn in loans secured on his assets.

McKillen, who is a shareholder in Maybourne Hotel Group, argued that interest payments on the loans were being made. The state responded that McKillen’s loans were not performing because he was unable to repay those that had already expired.

See the full story here:
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/8102801/Irish-bad-bank-fends-off-challenge.html

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