Crosbie fails in legal bid over €77m

Businessman Harry Crosbie has lost an appeal over Nama’s efforts to recover a €77m debt under which his personal assets, including his family home, are at risk.

Mr Crosbie claimed a gross injustice has been done to him because Nama failed to honour an agreement that certain personal assets would not be part of the enforcement of a judgment against him for the €77m commercial debt. Nama said there was no concluded agreement.

He appealed a High Court decision granting the judgment to Nama company, National Asset Loan Management Ltd (NALM) claiming he had a full defence to the claim. He also counterclaimed against NALM.