US golf resort chief sues NAMA

THE chief executive of an exclusive American golf resort, formerly owned by Derek Quinlan, is suing the National Assets Management Agency (NAMA) for his right to claim bonuses of $2.1 million (€1.55m).

James (Jim) Vanden Berg was hired by Mr Quinlan’s group in 2001 to manage the plush Georgia Club under the umbrella of the Barber Creek Land Company.

Earlier this year, this golf and residential complex was linked to $88m worth of loans taken out with Anglo Irish Bank, yet was sold in recent weeks for a cut price of $7m.