Can Nama withstand collapse of developer’s €2bn group?

Ireland’s Supreme Court will decide tomorrow whether to hear the appeal against the High Court ruling denying court protection to 6 companies within Liam Carroll’s Zoe group. Meanwhile, after that busy weekend for Irish bankers, the Irish Times reports that

THE POSSIBLE collapse of Liam Carroll’s €2.3 billion property empire will not derail the establishment of the National Asset Management Agency (Nama), according to the Department of Finance.

However, banking sources said the opposite yesterday. They warn that any significant insolvency will jeopardise the valuation model on which Nama is based.