NAMA takes control of top London retail sites

NAMA has won control of some of London’s most prized retail sites, including Louis Vuitton’s flagship store, as it seeks to recover loans made to a developer, a source said last night.

NAMA, set up to purge Irish banks of risky property loans, appointed receivers on Friday to recover personal loans, worth hundreds of millions of euros, made to David Daly, the source told Reuters.

NAMA declined to comment. Daly could not be reached for comment.