The National Asset Management Agency is seeking €33 million summary judgment against two Dublin businessmen arising from various property loans.

The proceedings against John Pugh, Park Avenue, Sandymount, and Billy Murphy, Journey's End, Leopardstown, came before Mr Justice Peter Kelly at the Commercial Court yesterday.

Neither man was in court or was represented when their names were called. They judge noted there had been difficulties in effecting service of legal documents on them but, from the evidence, he was satisfied proper service had been effected.

Noting both men still have a few days to enter an appearance in the case, he adjourned it to next Monday.

Loans
The case arises from loans allegedly advanced by Bank of Ireland to both men relating to the purchase of properties. Nama later took over the loans and appointed receivers over certain properties provided as security.

In separate proceedings, the agency is seeking judgments orders for an additional €10 million against Mr Pugh, and for some €6 million against his wife, Patricia, arising from guarantees allegedly provided by them.

It is alleged Mr Pugh had provided guarantees of various facilities provided to assist in purchasing properties in Dublin, London and France. Nama claims Mrs Pugh provided limited guarantees of some of her husband’s liabilities.

Bernard Dunleavy, for Mrs Pugh, said she knew nothing about her husband's business affairs and had been given a document with yellow tabs on it indicating where she was so sign. She had had no independent legal advice and wanted time to put those and other matters on affidavit, he said.

The judge said he would transfer the proceedings against Mrs Pugh to the Commercial Court and adjourn them to next month to allow her put matters on affidavit.