€47m judgment sought from Kelleher

Nama is pursuing businessman Garrett Kelleher for €46.8m summary judgment orders arising mostly from a limited guarantee relating to substantial loans made by the former Anglo Irish Bank for developments in Ireland, the US and Belgium.

Nama claims €350m is outstanding under those loans and Mr Kelleher is liable under guarantee for €40m.

Mr Kelleher will contend he was assured he would not be pursued under his guarantee given his “extensive co-operation” with Nama, his counsel Michael Cush told the Commercial Court.