Developer was bankrupt on day of Nama move
Given Mr McNamara’s adjudication as a bankrupt in the UK on Nov 6, National Asset Loan Management Ltd, a company of Nama, had decided to discontinue its summary judgment proceedings here, Niamh Hyland, said.
Counsel said NALM had issued the proceedings last September and, on Nov 6, filed a motion seeking that the case be fast-tracked in the Commercial Court. However, it found out at lunch time on Nov 6 that Mr McNamara had been declared bankrupt in the UK earlier that day.
