Irish developer Treasury Holdings is to be placed into liquidation, a Dublin high court heard today.
Lawyers for the former owner of Battersea Power Station told the court they would not oppose an application by KBC Bank to have the company wound up.
KBC says it is owed more than €70m (£56.4m) while Ireland’s state-owned National Asset Management Agency is owed €1.7bn (£1.4bn).
The company is owned by the property developers Johnny Ronan and Richard Barnett.
At a previous court hearing Nama, which has been locked in a lengthy legal battle with Treasury, described the firm as “hopelessly insolvent”.
nick.whitten@estatesgazette.com
