Derry property developer banned from being a company director for eight years

A Derry property developer, whose firm went bust owing Nama more than €30m, has been banned from acting as a company director for eight years.

Peter McDaid ran McDaid Developments (Ireland), which did much of its business in Co Donegal.

The firm also had land or developments in Derry, Cavan and Longford.

It went into administration in 2010, leaving creditors more than €33m out of pocket.

Its biggest creditor was Nama, the National Asset Management Agency.