Dublin developer Harry Crosbie is fighting efforts by the National Asset Management Agency (NAMA) to secure judgment against him for €77 million arising from loans and guarantees.

The State agency claims he has been guilty of a 'lack of candour ' and 'serious non-disclosure' in relation to his assets and that significant sums have been appropriated that should have gone to NAMA.

To rule in favour of NAMA, the Commercial Court has first to be satisfied that Mr. Crosbie has failed to raise a real and bona fide defence.

The court has heard he is relying on an agreement of August 2012 - which allegedly prevents NAMA from enforcing the liabilities.