Delay to McNamara's British bankruptcy exit

Sunday 03 November 2013 11.42
Bernard McNamara was due to be discharged as a bankrupt in Britain
Bernard McNamara was due to be discharged as a bankrupt in Britain

Former billionaire developer Bernard McNamara's discharge from bankruptcy in Britain is likely to be delayed by several months. 

Documents from the UK's Individual Insolvency Register indicated that Mr McNamara was due to be automatically discharged today.

However, a late intervention has prevented this. 

Among his biggest creditors is the National Asset Management Agency. 

The developer had debts as high as €2.7bn during the property boom, much of which is now held by NAMA.

Mr McNamara's insolvency practitioner, Baker Tilly Ryan Glennon, has declined to comment on the case.