A NAMA company has secured judgment orders totalling more than €114 million against a businessman arising from various loan and guarantee arrangements.
Mr Justice Peter Kelly granted the orders today against John McCann, Loughross Road, Crossmaglen, Co Armagh, on the application of Andrew Fitzpatrick, for National Asset Loan Managment Ltd.
There was no appearance in court by or on behalf of Mr McCann but the judge said he was satisfied service of the proceedings had been properly effected.
The judge said he was satisfied NALM was entitled to judgment in the sums sought, involving sums totalling some €54.7 million and £50.6 million.
The actions arose from loan and guarantee facilities involving Allied Irish Banks, Anglo Irish Bank and Bank of Ireland which had been taken over by NAMA.
NAMA claimed Mr McCann was liable under a 2006 guarantee for some £50 million arising from a facility advanced by Bank of Ireland to Broadway Capital Ltd to assist in financing the purchase of the Ropewalk shopping centre at Nuneaton in Warwickshire, England.
NAMA also sought repayment of about €10.6 million arising from Anglo facilities offered in June 2009 and judgment for more than €39 million arising from several AIB loan facilities issued for purposes including purchase of lands and apartments in Dublin; sites in Dundalk, Co Louth and in Monaghan; and to fund equity on investment property acquisition.
It claimed judgment for another €5.3 million under indemnity and guarantee obligations which it alleged Mr McCann had entered into with AIB concerning the liabilities of Castleway International Developments Ltd and Castleway Property Management Ltd.