Receivers reappointed to Grehan properties

Receivers have been reappointed to developer Ray Grehan by the National Asset Management Agency (NAMA).

Receivers reappointed to Grehan properties

Receivers have been reappointed to developer Ray Grehan by the National Asset Management Agency (NAMA).

Mr Grehan had been given until close of business yesterday to repay over €650m debts owed to NAMA by his company the Glenkerrin Group.

Receivers had originally been appointed by Nama last month to the properties belonging to Mr Grehan and his family. Last week the developer was rehanded control of his assets on foot of the new repayment deadline.

The receivers from Grant Thornton were howeer reappointed after a meeting between NAMA and its advisors yesterday evening, when Mr Grehan failed to meet the deadline.

Mr Grehan's major interests include the Glenroyal Hotel in Maynooth, the Grange Apartment Complex in Stillorgen and the former site of the UCD Veterinary College in Ballsbridge.

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