NAMA takes over Butler firms

A NUMBER of companies owned by Limerick developer Robert Butler have fallen under the aegis of NAMA, accounts confirm.

The assets owned by Mr Butler’s companies would not have been included in NAMA’s annual report for 2010 — published last week — as the transfer of their loans took place in February of this year.

According to a note attached to the accounts of Robert Butler Holdings Ltd, arising from the transfer of the loans in February, “NAMA has agreed to initially provide financial support to the company’s operation, in very specific terms, for a three-month period commencing May 20, 2011”.