McNamara’s Radoo Lands loses €15.5m following writedowns

A PROPERTY development company that embattled developer Bernard McNamara co-owns with two other Co Clare developers incurred a loss of over €15.5 million in 2009.
McNamara’s Radoo Lands loses €15.5m following writedowns
Thu, 27 Jan, 2011 - 00:00
Gordon Deegan

Accounts filed by the Ennis-based Radoo Lands Ltd show that the company recorded the €after tax loss to the end of December 2009 following a €15.5m writedown in its current and financial assets during the year.

Documents lodged with the Companies Office show that Mr McNamara has a one third share in the company he co-owns with two well-known Clare developers, Sean Lyne and Noel Connellan.

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Place: Ballymaley Business ParkPlace: Ennis’s Galway Rd.Place: EnnisPlace: Ennis, Co ClarePerson: McNamaraPerson: Bernard McNamaraPerson: Seán LynePerson: Noel ConnellanPerson: LisdoonvarnaPerson: LynePerson: ConnellanOrganisation: Radoo LandsOrganisation: EnnisOrganisation: Radoo Lands LtdOrganisation: Michael McNamara & Co.Organisation: RTÉOrganisation: Dwellblin Construction LtdOrganisation: Radoo Lands Ltd.Organisation: Cuddihy & CompanyOrganisation: CLS Crystal Partners Holding Company LtdOrganisation: CLS Crystal Partners Ltd.Organisation: Bank of ScotlandOrganisation: National Asset Management AgencyOrganisation: NAMA
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