David Cullen, owner of the Turk’s Head Bar and Paramount Hotel in Dublin’s Temple Bar, has denied he engaged in “extraordinary” transactions with his wife Mary to avoid repaying €29m loans taken over by Nama.

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.

Nama has alleged that a hotelier with debts of almost €28m has acted to move assets beyond its reach by transferring 40 properties to his wife and others.