Nama; developer Michael O’Flynn (centre) outside the Four Courts in 2014
The Irish Times reports:
The State’s National Asset Management Agency (Nama) received just £340,000 (€390,760 ) from the O’Flynn group’s sale of two British properties that were later valued at £5.3 million, the Court of Appeal heard.
Companies linked to developer Michael O’Flynn are suing former workers Patrick Cox, Liam Foley, Eoghan Kearney and others, claiming that they earned a €12.5 million profit on a student accommodation project at the property business’s expense.
Mr Cox and the others are challenging the claim on several grounds, including that the companies taking the legal action never employed them.