Re: Re: Limerickâ€™s Stalled Projects ~ NAMA
Limerick developer Ger Clohessy ordered to repay â‚¬34.9m in loans (Limerick Leader)
By Anne Sheridan, at the Commercial Court, Dublin
LIMERICK property developer Ger Clohessy was this Monday afternoon ordered to repay â‚¬34.9m in loans to Irish Nationwide, which were taken out in six accounts for development lands.
Mr Clohessy, brother of Ireland rugby international Peter and a former Young Munster captain, was not present in the Commercial Court, Dublin, when the order was made by Mr Justice Peter Kelly.
In early April, Mr Clohessy had strongly criticised Irish Nationwide’s decision to appoint a receiver to the Evanwood estate he was building in Castletroy, saying it “flies in the face of commercial logic”.
Irish Nationwide’s move followed lengthy negotiations on Mr Clohessy’s multi-million euro borrowings.
Was Ger Clohessy also involved in the Windmill House (Retail, Apartment, Office Development) on the Dock Road? There wonâ€™t be many city based developers left in business. 🙁
Another â€œRugby Folk Building Developerâ€ Pat Whelan who has just been given the go ahead from An Bord PleanÃ¡la for his Ardhu House site development, only will find himself in the high court after been sued by Paul Oâ€™Connell and others relating to a London investment.