Developer believed to be in debt to banks for €2bn

PROPERTY developer Liam Carroll, who is personally being sued for €60 million over loans from Irish Nationwide Building Society, is believed to be in debt to banks to the tune of more than €2 billion.

He is also among a group of developers facing a €150m claim in the Commercial Court by the owner of the Square shopping centre in Tallaght.

It is thought that knowing Mr Carroll is facing court action over that debt and the massive monies owed to a range of financial institutions, INBS has struck first to ensure it could recoup the €60m owed to it.