Nama may sue Cullen over debt

Businessman David Cullen, whose property portfolio includes the Turk’s Head Bar and Paramount Hotel in Dublin’s Temple Bar, can be sued in Ireland by Nama in a bid to recover €29m, the Commercial Court has ruled.

The fact Mr Cullen is now living in London and initiated bankruptcy proceedings there earlier this month, just months after the Nama action was commenced, does not deprive the Irish courts of jurisdiction to deal with the application to recover the €29m loans, Mr Justice Peter Kelly ruled.

There was no doubt the loans advanced to Mr Cullen by Bank of Ireland, and later taken over by Nama, were advanced here, are repayable here and everything pertinent to them is here, he added.