Ex-Nama man gives Dunne US deposition

US lawyers for former property tycoon Seán Dunne and his wife Gayle Killilea have taken a sworn statement from the former National Asset Management Agency executive who managed his loans.

Kevin Nowlan, who left Nama in recent weeks to rejoin the private sector, flew to the US to be questioned yesterday about the agency’s dealings with Mr Dunne before the State agency took legal action against the developer and his wife in the superior court of Connecticut in Stamford in July 2012.

Mr Nowlan’s deposition, in law offices in Stamford near the Greenwich home of Mr Dunne and his wife, was scheduled to take place over eight hours. He was questioned by Mr Dunne’s attorney Peter Nolin and Ms Killilea’s attorney Lou Bonsangue.

Bitter legal battle

A spokesman for Nama declined to comment on yesterday’s deposition. Mr Nowlan’s private testimony was the latest in a bitter legal battle between the two sides.

The couple have also sought to question Nama chief executive Brendan McDonagh under oath.

Nama, which is owed €185 million by Mr Dunne, took the action against the couple, claiming he had fraudulently transferred a half-share in an apartment in Geneva, Switzerland, to his wife, which she later sold, and that she had used the money to develop properties in Greenwich.

The State agency is seeking the reversal of assets transferred to Ms Killilea, who has said she received over €10 million from her husband following the birth of their first son in 2005.

Mr Dunne and his wife have applied to the court to have Nama’s case dismissed, arguing that the State agency has no jurisdiction to challenge the Swiss property transfer in the US courts.