Reuters: Bankruptcy News: Irish property developer Treasury Holdings to be wound up

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Irish property developer Treasury Holdings to be wound up Oct 5th 2012, 11:04 DUBLIN | Fri Oct 5, 2012 7:04am EDT DUBLIN Oct 5 (Reuters) - Irish property developer Treasury Holdings is to be wound up, a Dublin court heard on Friday, making it one of the biggest and most high-profile casualties of a property crash that led the country into an EU/IMF bailout. The company, controlled by developers Johnny Ronan and Richard Barrett, had built up a multibillion-euro property empire that included golf course resorts in Sweden, a five-star hotel in Moscow and offices in Paris. However most of its debts were transferred to Ireland's state-run National Asset Management Agency (NAMA) after a building boom came to a sharp halt in 2008. Backed by NAMA, another debtor, Belgian financial group KBC, won consent to have the company wound up on Friday.

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