Debt relates to Dublin property firm once led by Mullin and his business partner, who has also been hit with a judgmentA London property investment company has registered matching €2 million judgments against former Ireland rugby international Brendan Mullin and his one-time business partner Stephane Fund in relation to loans used to fund the purchase of luxury apartments in Ballsbridge, Dublin 4, from the National Asset Management Agency.
The company owned 11 apartments at the Shrewsbury Square development on Sandymount Avenue in Ballsbridge, Dublin 4, and two adjoining townhouses which it bought from Nama in 2017 with a view to redeveloping the properties. London-based ARA Venn Capital funded the 2017 transaction but last October the company had David O’Connor, partner at BDO’s corporate recovery department, appointed as receiver over the assets.
Bisvale, which has not filed accounts since 2018, owed more than €11 million to creditors at the end of 2017, according to its most recent set of accounts. ARA Venn Capital registered two €2 million judgments — one against Mr Mullin and one against Mr Fund — through an Irish agent, Mount Street Mortgage Financing on July 21st. The judgments appeared in the latest issue of Stubbs Gazette.Shrewsbury Square was built by developers Sebastian Devlin and Johnny Burns of Woodgreen Property at the height of the boom.
Biz Ah he wasn't in enough debt to get let off,
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Source: IrishTimes - 🏆 3. / 98 Read more »
Source: IrishTimes - 🏆 3. / 98 Read more »