The High Court heard a phased payment to the tax authority was missed in error and has granted firms linked to the developer time to file an affidavit detailing a proposal to address the tax debts.
The Dublin firm, which channels investor funds into residential property development, posted healthy returns in the first full year following the retirement of one of its co-founders.
MDS, the builders of the Ringfort Estate in Co Meath, had tried to take over the site last year with an offer of €3m. But the offer was turned down by the receivers as too low.
The housing estate in Rathmolyon, Co Meath, was aimed at first-time buyers but when it ran into trouble it featured extensively in the media. Now a liquidator has been appointed to it.
The Government hopes to boost delivery as it lags behind targets amid a constant crisis. But will the moves have the desired effect and what for those trying to get on the housing ladder or struggling to make rent?
By shifting away from private apartment construction in favour of state partnerships, the housing developer reported enviable profits for 2024.
Property investment firm Urbeo wanted Linbiz Ltd wound up over a six-figure penalty debt for missed completion targets on a major apartment complex in Santry. It is the latest in a string of receiverships and insolvencies to hit McNamara companies this year.
The south Dublin mixed-use property is the most valuable put on the market recently by the development business of Press Up founders Paddy McKillen Jr and Matt Ryan.
Major developers, the Central Bank and multiple farmers are among dozens of appellants who want sites removed from the new tax net.
While the Limerick businessman is in Cheltenham watching his horses run, the UK- and Dublin-based lending arm of his family office is funding more and more property deals all over Ireland.
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