Cannon Kirk case over alleged €15m Nama penalty understood to be settled

This report is a localnews.ie summary based on public court reporting and records; sources are listed below.

Cannon Kirk’s challenge over an alleged €15m NAMA loan-redemption penalty was understood to have been settled, in a report published on 23 June 2017.

The case arose as the property group sought to refinance borrowings held by Nama and faced a proposed fee linked to redeeming those loans.

The report said US private equity firm Oaktree had agreed to provide more than €100m to help Cannon Kirk redeem its Nama borrowings and fund future growth.