Isle of Man-based fund, Bramden Investments, claims that it is prepared to make a cash bid for Fota Island golf resort.

State agency Nama put the resort, once part of developer John Fleming’s property empire, on the market with a guide price of €20 million a number of weeks ago.

Yesterday, Bramden’s chief executive, Dan Craddock, said in a statement that he believed its bid was one of the forerunners.

He said that his fund has made an all-cash offer for the resort. A spokeswoman said yesterday that it has the money in the bank, “ready to go”.

Bramden faces competition from at least two other bids. Former K Club director and professional golfer, John McHenry, is leading a local consortium for the Cork Harbour property. Thai billionaire Andrew Yau is also reported to be in the running.

Bramden claimed yesterday to have been involved in a leisure development in the Caribbean, but would not say where.

The company is involved in third party funding of potentially lucrative legal cases in Britain.