Irish banks fear property loan writedowns
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An Irish court decision to appoint a liquidator to one of Ireland’s leading developers has raised concerns that the country’s banks could be hit by deeper property loan writedowns. Bankers expressed fears that a fire sale of the properties owned by developer Liam Carroll could depress prices for all property assets just as the government is set to transfer €90bn (£77bn) of impaired bank loans to its new a bad bank agency, Nama.
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