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Article: A FINANCIER who put together a '28m deal to purchase Buy & Sell magazine in 2007 is being sued for '6.3m by National Irish Bank arising from personal guarantees given by him.
- Article from:
- Irish Independent (Dublin, Republic of Ireland)
- Article date:
- October 13, 2009
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NIB takes '6.3m action against financier
Tim Healy
A FINANCIER who put together a '28m deal to purchase Buy & Sell magazine in 2007 is being sued for '6.3m by National Irish Bank arising from personal guarantees given by him.
Naldin Ltd, the parent company of the Buy & Sell group of companies, was placed in receivership last week. Naldin and other companies had been placed under court protection but that was removed on September 30 on the application of the examiner, Tom Kavanagh.
NIB told the Commercial Court yesterday that financier Niall McFadden informed it on September 28 he was now located in London. The bank expressed concern he ...