City Island still afloat

BALLYMORE Properties has not gone away.

Sean Mulryan’s company was one of the most recognisable names of Ireland’s building boom and bust. It was unusual, in that only 15% of its development activities were in Ireland when the downturn occurred. This didn’t prevent it becoming involved in NAMA.

Chief operating officer, Paul Keogh, says that the company didn’t know from one Friday to the next if it could pay its staff. On the Friday that Anglo Irish Bank was taken over by the government, it couldn’t. Those were worrying times for the company’s employees.