Kelleher firms in receivership

Nama hired receivers to some companies controlled by Garrett Kelleher, a developer who planned to build North America’s tallest building in Chicago, according to sources.

Nama named Mazars to take control of assets tied to Mr Kelleher’s Dublin-based Shelbourne Property Group, said the sources.

Nama is seeking to recoup the €71.2bn of loans owed by developers that the agency bought from banks after the country’s property market collapsed.