McNulty liable for €90m Nama loans

Businessman Kevin McNulty is liable to Nama for €90m over unpaid loans made by the former Anglo Irish Bank to him and two building companies, plus his guarantees of some of those loans, the Commercial Court ruled.

Mr Justice Brian McGovern also ruled Conal P Byrne, a retired garda, is liable to Nama for €4.25m arising from his guarantee of loans made to one of the defendant companies, Ashburton Construction Ltd. Ashburton and the other defendant, PA Bello Ltd, are liable to Nama over loans of €3.84m and €3.73m respectively.

Mr McNulty, of Blessington, Co Wicklow, and Mr Byrne, of Mill Hill Road, Leixlip, Co Kildare, agreed they signed the guarantees relied on by Nama without reading the relevant documents but argued that Anglo had loaned money in 2009 while insolvent.