JOINT VENTURE: A COMPANY owned by the family of former property developer Bernard McNamara is involved in the construction business in Doha, Qatar, accounts just filed by the company disclose.
The company, McNamara EMS Ltd, invested €200,000 in a joint venture construction company in the Middle East in the year to March 31st, 2010. The unnamed joint venture has recently completed a building contract in Doha, according to the accounts.
The shares in the company were transferred by Mr McNamara to his wife Moira in September 2009, and she became a director of the company in October 2010.
The accounts show she is owed €200,000 by the company and is its sole creditor.
She advanced the money to the company during the year to the end of March 2010 on an interest-free basis.
Efforts to contact Ms McNamara or her husband yesterday were not successful.
In 2010 Mr McNamara said he was broke and that his companies owed approximately €1.5 billion.