McNamara ‘cannot put value on assets’

DEVELOPER Bernard McNamara will provide a sworn statement of his assets and liabilities to investors pursuing him for €62.5 million but it is “impossible” for him to outline the current value of his assets, the Commercial Court heard yesterday.

Mr McNamara is also not pursuing his effort to have the investors sign a “non-disclosure” agreement before releasing the information sought by them, his lawyer told Mr Justice Peter Kelly.

John Gordon, counsel for Mr McNamara, said his client had prepared the affidavit of means but had not sought a confidentiality agreement as legally understood. The idea of a non-disclosure agreement was to ensure “unnecessary material” wasn’t put into the media, he said.