Offloading of Mansfield assets underway

Efforts to offload assets belonging to businessman Jim Mansfield are getting underway.

A receiver was yesterday appointed to a number of Mr Mansfield’s companies: including Weston Aerodrome, six apartment blocks near Dublin's Citywest Hotel and Palmerstown House Estate in Co Kildare.

Mr Mansfield is the third well-known developer to be placed into receivership by NAMA in recent weeks, after Paddy Kelly and Derek Quinlan.

Business journalist Ian Guider said the move is likely to clean him out financially: “At one stage, Jim Mansfield valued his own assets at €1.6bn at the height of the boom…I think he’s going to be left penniless after this.”