Developer Sean Dunne has consented to an order being made against him in the Commercial Court directing him to repay more than €185m to the National Asset Management Agency. Mr Justice Peter Kelly made the order this morning.
Lawyers for NAMA said the amount was made up of nine separate transactions including personal loans to Mr Dunne totalling just over €32m as well as personal guarantees given by him relating to facilities from Bank of Ireland, Irish Nationwide Building Society and AIB.
Mr Dunne had provided guarantees related to loans to various Mountbrook companies, the Riverside 4 Development and DCD Builders.
NAMA called in the loans in July last year and served notice of these proceedings on Mr Dunne in December last year.
Last year, NAMA appointed a receiver to a number of property assets owned by Mr Dunne and the Mountbrook companies. The court was told €25,000 has been realised by the receiver since November 2011.
The summary judgment order granted by the Court allows the agency to take further steps to attempt to recover the money.
