herald

Tuesday 14 August 2018

property

NAMA's e184m orders for Dunne

DEVELOPER Sean Dunne has indicated he will consent to summary judgment orders of €184m being made against him at the Commercial Court today.

The so-called 'Baron of Ballsbridge' (below) paid a record-breaking €379m for Jurys and Berkeley Court hotel sites at the height of the boom in 2005.

NAMA is seeking the €184m judgment against Mr Dunne in an effort to make good on personal guarantees he gave for property loans.

It's understood that these include loans linked to the €130m purchase of Hume House, also in Ballsbridge, and the Riverside IV office block in central Dublin.

NAMA acquired the Dunne loans in July 2010, and a year later the agency issued a demand for repayment.

The toxic loans agency initiated court proceedings last Christmas, after Mr Dunne failed to repay the loans.

The case was due to be heard next week but yesterday legal representative James Doherty told Mr Justice Peter Kelly that solicitors for Mr Dunne had indicated there would be "a consent to the matter when it was due to be heard".

It means Mr Dunne will not try to stop NAMA registering its claim for the repayment.

Justice Kelly moved the case forward to today as a result.

Promoted articles

Entertainment News