Celtic Tiger developer has €14m Nama debt written off for €37,000

The arrangement allows Michael Murray — a developer who was a director of several firms during the Celtic Tiger era — to keep his family home, valued at €750,000

According to court filings, Michael Murray had debts of €14.6m, of which €14m was owed to Nama. File picture: Sasko Lazarov/RollingNews.ie

A Meath man has had a €14m debt owed to the National Asset Management Agency (Nama) written off for a €37,000 payment under a personal insolvency arrangement approved by the High Court.

Ms Justice Nessa Cahill this week sanctioned the arrangement of Michael Murray, aged 47, of Brownstown, Kilcloon.