Nama begins legal proceedings against developer Sean Dunne

The agency has confirmed that it has recently served papers to the property developer.

THE NATIONAL ASSET Management Agency has begun legal action against developer Sean Dunne.

A spokesperson for Nama confirmed to TheJournal.ie that the agency has served papers on Dunne; it is believed that it intends to pursue personal guarantees given by Dunne to cover a number of property loans.

The total of Dunne’s personal debts could exceed €100 million, the Irish Times reports.

The agency appointed a receiver to some of the properties owned by the developer last year. Those properties included in the receivership were Hume House in Ballsbridge - which was bought for €130 million in 2006 – and properties at the Docklands, Sandymount, Rathfarnham and Herbert Street.

However, the former Jury’s Hotel in Ballsbridge was not included in the process.

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Jennifer Wade

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