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Monday 22 September 2014

NAMA secures €5.4m judgment against Dublin businessman

Mary Carolan

Published 10/03/2014 | 17:52

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The Treasury Building on Grand Canal Street  Lower where NAMA is based .Pic Tom Burke 14/4/10
The Treasury Building on Grand Canal Street Lower where NAMA is based. Picture: Tom Burke

NAMA has secured €5.4m judgment orders against a Dublin businessman arising from loans and guarantees related to the purchase of lands in Co Wicklow.

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Mr Justice Peter Kelly entered judgment at the Commercial Court yesterday for about €5.4m against John McGee, with an address at Drynam Road, Swords, Co Dublin.

A solicitor for Mr McGee said he was consenting to judgment.

Judgment for €1.98m was also entered against Ifacna Developments, with registered offices at the same address.

NAMA is also pursuing three other people for judgment for the €5.4 sum. They are: Eileen Browne, Burnaby Heights, Greystones, Co Wicklow; Howard Millar, Seafield Road East, Clontarf, Dublin; and Ronan O Caoimh, Delgany, Co Wicklow.

After being told all three want time to put in defences to the claim, the judge adjourned the proceedings against them.

The proceedings have been brought by a NAMA company arising from its takeover of various Bank of Ireland loan offers of 2005, 2006 and 2007, 2008, related to the purchase of lands at Ballybeg, Rathnew, Co Wicklow.

NAMA alleges the defendants defaulted on making repayments in accordance with the terms of the various facilities.

In January last, it wrote to the personal defendants demanding repayment of some €3.4m and to Ifcana demanding repayment of €1.98m. It alleges the personal defendants are also liable, under guarantee, for the €1.98m sum.

Irish Independent

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