Nugent gives €1.3m apartment to bank

Jim Nugent, who famously gave a “dig-out” to former taoiseach Bertie Ahern, has had the €1.3m D4 apartment at Haseldene, Ballsbridge, handed back to a bank.

Nugent gives €1.3m apartment to bank

Nugent, of Maple 6, in a plush gated apartment block development off Anglesea Rd, and wife Mary Nugent, also known as Mary T Monaghan, were sued for repossession by KBC Bank Ireland plc.

Barrister Rudi Neuman Shanahan, in a three-minute hearing in the Circuit Civil Court, said the bank was seeking possession of the property. A firm of solicitors for the Nugents was neither consenting nor objecting to the order being made.

“That allows me to agree on behalf of the bank to a six-month stay on the order,” counsel for KBC, of Sandwith St, Dublin 2, told the court.

Judge Jacqueline Linnane, granting the possession order with the agreed stay on execution, said the loan for €1.3m had been taken out for a 10-year period in February 2005 and “not one euro” had been paid against it since 2012.

When the judge said no sworn affidavit outlining a defence against the bank’s application had been entered, a representative of O’Callaghan Kelly, solicitors for the Nugents, told the court the defendants were neither consenting to nor opposing the application.

Judge Linnane said €1.7m was outstanding on the overall debt, which included a secondary loan of €160,000 that the Nugents had taken out in September 2005.

The Circuit Court judge had considered papers in the case revealing the Nugents had defaulted in repayments and had failed to maintain constructive engagement with the bank, which had mounted a demand for possession in March 2014.

In December 2013 Nugent, then acting chief executive of the Central Remedial Clinic, was sued for almost €9m by two banks.

In 2011 Danske Bank, trading as National Irish Bank, sued Nugent for a debt of almost €8.5m in the High Court which, in February 2013, ruled in favour of the bank. Three months later the Danish lender took out a judgment mortgage on Nugent’s home on Anglesea Rd.

Nugent was also sued for almost €300,000 by Bank of Scotland (Ireland) which in 2012 executed a judgment mortgage against him. It is not clear if Mr Nugent’s debts were satisfied at any stage.

Mr Nugent was a key member of the “Drumcondra mafia” who were close to former Mr Ahern. He had told the Mahon Tribunal that he had given the former taoiseach €2,500.

Danske Bank withdrew its banking facilities in late 2013. KBC Bank began operating a branch network in 2012 with a further build-out in 2013. This followed the exit of Halifax Ireland and Danske from the Irish retail market, with some branches going in former locations of those banks.

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