Developer Bernard McNamara has consented before the Commercial Court to a €2.11 million judgment order against him in favour of two fellow shareholders in a property company.

Gary Smith, Hazelhatch, Newcastle, Co Dublin and Ivor Dougan, Booterstown, Co Dublin, sought the judgment arising from Mr McNamara’s failure to make certain payments agreed as part of an October 2008 settlement of earlier proceedings brought against him by them and three others.

The case arose out of the coming together in 2004 of Mr McNamara and five people – three businessmen, a tax consultant and a banker – to acquire properties within a site adjacent to Grafton Street, Dublin, so a major commercial development could be built there.