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Article: DEVELOPER Bernard McNamara is suing the Dublin Docklands Development Authority for '108.4m over the '412m purchase of the Irish Glass Bottle site.
- Article from:
- Irish Independent (Dublin, Republic of Ireland)
- Article date:
- November 3, 2009
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Dearbhail McDonald and Tim Healy
DEVELOPER Bernard McNamara is suing the Dublin Docklands Development Authority for '108.4m over the '412m purchase of the Irish Glass Bottle site.
In a legal action that will bring together some of the key players at the height of the property boom, the builder claims he had no interest in buying the site because he believed it was not possible to generate a profit from it.
Mr McNamara bought the site with financier Derek Quinlan and the DDDA in 2006, at the height of the property boom, for '412m.
It is now believed to be valued at just '60m.
Mr McNamara admitted yesterday that he is facing ...