STATE ASSET manager Nama has taken control of part of the Hanly group, a high-profile construction, property and hotel business based in the west.
Nama has appointed Neil Bannon of Dublin accounts’ firm, Bannon Commercial, as receivers to a number of properties owned by Alan Hanly Properties, part of the Hanly group.
It was not clear yesterday which of the company’s assets are now under Mr Bannon’s control as a result of the agency’s move. The company itself has not been placed in receivership.
Anglo Irish Bank, now known as the Irish Bank Resolution Corporation, was one of the company’s bankers.
Company filings show that it had debts of over €4 million secured against a number of properties in Rosemount Business Park in west Dublin. Alan Hanly and his family control the Hanly group. The business is based in Elphin, Co Roscommon and has interests ranging from quarrying, residential and commercial building and hotel.
One of the group’s assets is Lough Rynn Castle Hotel in Co Leitrim, where Ireland rugby international and captain Brian O’Driscoll married actress and author Amy Huberman. The group also owns Kilronan Castle Hotel in Ballyfarnon, Co Roscommon. The company at one stage agreed to buy Kinnitty Castle in Co Offaly for €11.6 million in 2006, but the deal fell through following a protracted legal battle.
The group has residential developments in Co Longford, Co Wicklow, and in Carrickmines and Santry in Dublin. The business also has a civil engineering arm that specialises in road construction. The group was valued at €180 million at one stage.
Nama generally appoints receivers to companies or properties where the agency and the borrower have failed to agree on a business plan that will recoup the developer’s debt.
The agency did not comment last night. Mr Bannon’s appointment was notified to Iris Oifigiúil, which is standard practice.
