Nama wins orders against Grehans

NAMA has secured court orders enabling it to move against assets in Britain of developer brothers Ray and Danny Grehan as part of the agency’s efforts to recover unpaid loans of over €300 million.

Mr Justice Peter Kelly yesterday granted an application by Ciaran Lewis, for Nama, for European Enforcement Orders against both brothers. The application was made on an ex parte basis (one side only represented).

The orders allow Nama to apply to the courts of all EU member states in its efforts to execute judgments obtained in the Commercial Court.