The developer has 40-plus partnerships in Ireland and overseas, and is involved in projects with total debts of more than €2 billion.
The complexity of the deals has prompted Anglo to hold off from moving on Kelly’s various businesses. While many of the projects he backed are not in difficulty, he is understood to be facing particular problems with a $1 billion scheme in Florida. He also backed Tulfarris House & Golf Resort in Wicklow and the Thomas Read group of pubs and restaurants, both of which are in receivership.
Anglo recently seized the assets of the Dublin company behind Pragelato Village, a €100 million, five-star ski resort in northern Italy that was backed by Kelly.
