A receiver has been appointed to take control of shares held in two companies by embattled developer Paddy Kelly.

National Irish Bank brought the application to have the receiver appointed to receive Mr Kelly’s interest in 866,000 shares he holds in Club Company Holdings Ltd, with registered offices at Castle Royle Golf and Country Club, Reading, Berkshire, England. The shares are held, in turn, on trust for Mr Kelly by a company called Zarling Ltd.

NIB said it was bringing the application after judgment orders were made in its favour last August against Mr Kelly and two others.