Sunday 21 January 2018

Crosbie fights Nama pursuit of family home and personal assets

Harry Crosbie
Harry Crosbie

Tim Healy

Businessman Harry Crosbie says a gross injustice has been done to him because Nama failed to honour an agreement that certain personal assets, including the family home, would not be part of the enforcement of a judgment against him for a €77m commercial debt.

He is appealing a High Court decision last year granting the judgment to Nama company, National Asset Loan Management Ltd (NALM).

He says while he is liable for the debt, NALM was not entitled to seek an order enforcing the judgment against his home in Hanover Quay, Dublin, his son Simon's home in Blackrock, Dublin, and against some of his wife Rita's assets.

Last year, Mr Justice David Keane ruled NALM was entitled to summary judgment orders for €77m arising from debts and guarantees of liabilities of two of his companies, Shoal Trading Ltd and Ossory Park Management Ltd. The decision was appealed to a three-judge Court of Appeal which began hearing the case Monday.

It resumes next week.

Irish Independent

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