NAMA appoints receivers to Kelly assets

THE National Asset Management Agency (NAMA) has appointed receivers to 16 assets linked to debts of up to €1.5 billion held by high-profile property developer Paddy Kelly — once one of the country’s wealthiest property tycoons.

The State body has taken the step in order to sell the properties to pay off significant debts still owned by the 67-year-old Laois native.

The decision — which affects properties including a number of pubs in Dublin, Kilkenny and Wicklow — was confirmed late last night by NAMA.