Irish developer, Garret Kelleher and his company, Shelbourne North Water Street, which planned to build one of the tallest buildings in the world, the Chicago Spire, has initiated legal action in the US against NAMA and debt management firm, Capita, for attempting to collect debts of more than $8m from Mr Kelleher.

Loans from Anglo Irish Bank to build the Spire ended up in NAMA, as Mr Kelleher’s company entered bankruptcy protection in the US five years ago with debts of around $80m.

Mr Kelleher says that NAMA, through Capita, has continued to pursue his company for loans of over $8m despite his contention that those loans were covered by the bankruptcy protection.

In the filing it is claimed that Mr Kelleher had a conversation with a senior Capita employee who is said to have confirmed that these loans related to the business venture in Chicago - and they were not personal loans.

He is also seeking punitive damages as a result of what’s termed, “wilful violation of the releases.” The spire remains unbuilt.