The National Assets Management Agency is pursuing Wicklow developer Kevin McNulty for €86.5 million arising from loans made by the former Anglo Irish Bank.

Nama said there were issues concerning “grave irregularities” in the security provided for some of the Anglo loans and other issues about certain asset transfers to Mr McNulty’s wife Jessica.

The judgment sought relates to a 2009 facilities agreement provided by Anglo and to personal guarantees allegedly provided by Mr McNulty, Red Bog, Blessington, in 1998 and 2003 over the liabilities of two of his companies. The case is also against Conal P Byrne, Castlepark, Mill Road, Leixlip, Co Kildare, who is being pursued for €4.1 million arising from a personal guarantee allegedly provided by him in 1998 concerning liabilities of Ashburton.

The proceedings came before the Commercial Court yesterday but were adjourned for three weeks by Mr Justice Peter Kelly after various issues were raised by the defendants.