Sunday, 24 April 2011

DAA set to lose millions on three property deals with developers who've blown their billions | Mail Online

DAA set to lose millions on three property deals with developers who've blown their billions | Mail Online

The Dublin Airport Authority has lost millions of euro in property deals with some of the country's most notorious failed developers, the Irish Mail on Sunday can reveal.

The DAA, whose boss Declan Collier is one of the highest-paid semistate chiefs in the country, entered into separate deals with builders Liam Carroll, Gerry Gannon and Bernard McNamara.

All three have seen their empires collapse hundreds of millions of euro in debt. Carroll's Zoe group, which disintegrated with debts of €2bn in 2009, is now in the hands of various receivers and the vast majority of his loans have been taken into Nama.

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