{"id":600955,"date":"2026-07-23T21:39:14","date_gmt":"2026-07-23T21:39:14","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/600955\/"},"modified":"2026-07-23T21:39:14","modified_gmt":"2026-07-23T21:39:14","slug":"co-meath-man-has-e14m-nama-debt-written-off-for-e37000-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/600955\/","title":{"rendered":"Co Meath man has \u20ac14m Nama debt written off for \u20ac37,000 \u2013 The Irish Times"},"content":{"rendered":"<p class=\"c-paragraph paywall \">A Co Meath man has had a \u20ac14 million debt owed to the <a href=\"https:\/\/www.irishtimes.com\/tags\/nama\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/nama\/\">National Asset Management Agency (Nama)<\/a> written off for a \u20ac37,000 payment under a personal insolvency arrangement approved by the <a href=\"https:\/\/www.irishtimes.com\/tags\/high-court\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/high-court\/\">High Court<\/a>.<\/p>\n<p class=\"c-paragraph paywall \">Judge Nessa Cahill this week sanctioned the arrangement of Michael Murray (47), of Brownstown, Kilcloon, allowing  Murray \u2013 a developer who was a director of several firms during the <a href=\"https:\/\/www.irishtimes.com\/tags\/celtic-tiger\/\" target=\"_self\" rel=\"nofollow noopener\" title=\"https:\/\/www.irishtimes.com\/tags\/celtic-tiger\/\">Celtic Tiger<\/a> era \u2013 to keep his family home, valued at \u20ac750,000. <\/p>\n<p class=\"c-paragraph paywall \">Personal insolvency practitioner Gary Digney, represented by barrister Keith Farry, instructed by Nicola Nevin &amp; Co solicitors, applied for approval of the insolvency arrangement this week.<\/p>\n<p class=\"c-paragraph paywall \">According to court filings, Murray had debts of \u20ac14.6 million, of which \u20ac14 million was owed to Nama. Nama, the so-called \u201cbad bank\u201d, was set up after the 2008 global financial crisis to take over risky commercial property loans from Irish banks. <\/p>\n<p class=\"c-paragraph paywall \">Under the court-approved arrangement, about \u20ac37,000, provided by a family member of Murphy\u2019s as a lump sum, will be paid towards the unsecured debts owed to Nama. This is the totality of payments to be made to Nama under the plan.<\/p>\n<p class=\"c-paragraph paywall \">A secured debt of about \u20ac594,000 is outstanding in mortgage payments relating to Murray\u2019s family home, owed to lender Pepper Finance Corporation (Ireland) DAC. <\/p>\n<p class=\"c-paragraph paywall \">A restructured mortgage repayment scheme will see the debt repaid in full. A \u20ac200,000 lump-sum payment provided by the family member will go towards the debt.<\/p>\n<p class=\"c-paragraph paywall \">Murray has a monthly income of \u20ac2,477, according to accounts filed with the court, and reasonable living expenses of \u20ac2,188. <\/p>\n<p class=\"c-paragraph paywall \">According to the arrangement, Murray was a director of several development companies, alongside his father, during the Celtic Tiger era. <\/p>\n<p class=\"c-paragraph paywall \">Their business traded successfully until the financial crash. The companies were subsequently placed into receivership.<\/p>\n","protected":false},"excerpt":{"rendered":"A Co Meath man has had a \u20ac14 million debt owed to the National Asset Management Agency (Nama)&hellip;\n","protected":false},"author":2,"featured_media":600956,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[73],"tags":[79,25325,18,10476,19,17,24132],"class_list":["post-600955","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-celtic-tiger","tag-eire","tag-high-court","tag-ie","tag-ireland","tag-nama"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116971461928421801","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/600955","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=600955"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/600955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/600956"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=600955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=600955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=600955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}