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McNamara loses out in €150,000 settlement

PROPERTY developer Bernard McNamara suffered a fresh blow as he agreed to pay €150,000 to an interior designer following a legal dispute.

Mr McNamara (60) settled out of court with Spanish company Marbetexsa after six years of legal wrangling. The row centred on work carried out at the tycoon's Costa del Sol home, called Villa Magna, in 2005.

The former billionaire sued Marbetexsa claiming they owed him €232,000 after he overpaid them by mistake.

But the interior designers countersued, claiming the Irishman owed them €298,000 on top of the €298,000 he had already paid them.

The case was due to be heard in Marbella on December 14. But this weekend it was revealed that lawyers acting for the two sides had settled the dispute.

The judge archived the case in a written ruling made public over the weekend.

Mr McNamara agreed to pay €35,000 within six days of the ruling and €115,000 by January 15.

Irish Independent