Nama secures orders of nearly €20m over unpaid property loans

A National Assets Management Agency company has secured judgment orders for some €19.5 million on consent against two businessmen over unpaid property loans. Judgments in the same sum are being sought against five other men in that case.

Mark Butler, Dr Mannix Road, Salthill, Co Galway, and Edmund Jennings, Tulla, Co Clare, consented to the summary judgment orders at the Commercial Court yesterday.

National Assets Loan Management (Nalm) also wants judgment against five other businessmen in that case arising from its takeover of a loan facility from AIB for pur poses including a site development at Drummin Village, Nenagh, Co Tipperary.

Those five are Michael Barker, North Circular Road, Limerick; Eugene McMan- emy, North Circular Road, Limerick; Joseph Delaney, Clarinbridge, Co Galway; Edward O'Toole, North Circular Road, Limerick, and John Kingston, Ennis Road, Co Limerick.

Mr Justice Peter Kelly returned the proceedings against those five to next month to allow them time to prepare legal documents.

MARY CAROLAN