Nama to block Dunne debt clemency

Nama has filed an objection to the discharge of Sean Dunne’s debts, claiming the developer made numerous false statements in both his filings to a US bankruptcy court and at a creditors’ meeting held last month.

The bad bank, through its subsidiary, National Asset Land Management (NALM), filed a 27-page complaint against Mr Dunne, arguing he should not be entitled to US bankruptcy protection.

Mr Dunne now faces a bankruptcy trial. If he loses, the one-time ‘Baron of Ballsbridge’ will not be entitled to a fresh start under US bankruptcy laws, which would allow him to retain some of his assets and cash, and the judge can recommend a criminal investigation for perjury. Mr Dunne’s lawyer in the US did not respond to calls for comment.