Unfortunately, Irish Nationwide went bust, and was subsumed by the even more
bust Anglo Irish Bank. A significant proportion of Updown Court’s debt
(Allen-Vercoe estimates 50 per cent) is now owned by the National Asset
Management Agency (Nama), Ireland’s “bad bank” operated on behalf of the
taxpayer. Nama wants its money back, and is reportedly preparing to appoint
receivers in the next few days. Yesterday it told The Daily Telegraph that
it would not co… (View original article)