Court bid to remove widow as executor of developer’s estate

Nama has gone to court seeking orders removing the widow of developer Liam Maye as executor of his estate and replacing her with an administrator chosen by it or the court.

This is the first application of its kind before the big business court.

Nama, owed €649m arising from various loans to Mr Maye, who died in May 2008, is concerned that assets worth millions of euro, including properties, a retirement fund, a Lexus car, and golf membership have been transferred out of his estate to his widow Anne and other family members or connected parties.