Mr Grehan said Nama would continue to pursue him for the full €650 million in property loans he owes even though the agency has removed his ability to repay his debts. “There is no future in today’s market in Ireland but there may be a future in 10 years’ time,” he told The Irish Times.
“But if you listen to Frank Daly [Nama chairman], it is not an option. He says that your debt will always be owed to the State.”
Mr Grehan was one of a number of contributors to Nama-land, a programme about the workings of the State agency broadcast by RTÉ’s Prime Time last night.
The developer said he was looking at his options but that there was no opportunity left for him in Ireland after Nama appointed receivers to his property assets in Ireland and the UK.
“They have taken the opportunity away from me to repay my borrowings. Therefore if I come back in five or six years’ time and I create a business in the UK or elsewhere in the world and I create wealth again, they can come after that as well,” said Mr Grehan.
“This is not an opportunity to start again – this is an opportunity to knock our lights out,” he said.there is more