Nama appoints receiver to Grehan company

Nama has today appointed a receiver to the company and personal assets of the developers Ray and Danny Grehan.

The developers major interests include the Glenroyal Hotel in Maynooth, the Grange Apartment Complex in Stillorgan and the former site of the UCD Veterinary College in Ballsbridge.

It is understood that the developers' debts to Nama are hundreds of millions of euro.