Delay to ex-billionaire McNamara's bankruptcy exit

Written By Unknown on Sabtu, 02 November 2013 | 22.40

Former billionaire developer Bernard McNamara's discharge from bankruptcy in Britain is likely to be delayed by several months. 

Documents from the UK's Individual Insolvency Register indicated that Mr McNamara was due to be automatically discharged today.

However a late intervention has prevented this. 

Among his biggest creditors is the National Asset Management Agency (NAMA). 

The developer had debts as high as €2.7 billion during the property boom, much of which is now held by NAMA.

Mr McNamara's insolvency practitioner, Baker Tilly Ryan Glennon, has declined to comment on the case.


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