Limerick property developer and former Ireland rugby team manager Pat Whelan received a 400,000 lump-sum payment from prominent rugby supporter Frank Hogan to help secure his exit from insolvency.
Whelan agreed a personal insolvency arrangement (PIA) with his creditors earlier this year, under which they will be paid dividends of just under 390,000. Whelan owed more than 133m.
By far the largest creditor was Nama, which was owed about 120m. However, a number of investors who backed Whelan in a property investment at Earls Court in London were owed 13.6m.
Among the investors was former Ireland and Munster rugby captain Paul …
Read the full article at: https://www.thetimes.co.uk/article/frank-hogan-on-the-ball-to-aid-insolvent-pat-whelan-797sh0903