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Dellway investments / McKillen v Nama case

  • 06-04-2011 11:11am
    #1
    crystalmice
    Registered Users, Registered Users 2 Posts: 190 ✭✭


    Anyone know when the SC judgment is due out? Or where one could look for it? ( though no doubt it will be well publicised)
    Thanks


Comments

  • #2
    234
    Registered Users, Registered Users 2 Posts: 1,529 ✭✭✭234


    It's been here for a while now.


  • #3
    blueythebear
    Registered Users, Registered Users 2 Posts: 1,074 ✭✭✭blueythebear


    234 wrote: »
    It's been here for a while now.


    The court invited submissions from both sides on certain questions of law around the NAMA legislation. No judgement was given on these issues and the matter has to go back before the Supreme Court to thrash those issues out. The judgement given thus far is incomplete but I've no idea when it's due back in the Supreme Court...


  • #4
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    It's being given this morning


  • #5
    blueythebear
    Registered Users, Registered Users 2 Posts: 1,074 ✭✭✭blueythebear


    Deleted User wrote: »
    It's being given this morning

    http://www.rte.ie/news/2011/0412/nama1.html

    The NAMA legislation was deemed to be constitutional but the Court did rule that Mr McKillen (and others with loans taken over by NAMA) is entitled to make representations as to why his loans should not be taken over by NAMA.

    The report says he is "ecstatic" with the judgment. As much to do with avoiding a costs order (which I presume he did) as with the actual result I'm sure.


  • #6
    mydiscworld
    Registered Users, Registered Users 2 Posts: 814 ✭✭✭mydiscworld


    blueythebear wrote: »
    http://www.rte.ie/news/2011/0412/nama1.html

    The NAMA legislation was deemed to be constitutional but the Court did rule that Mr McKillen (and others with loans taken over by NAMA) is entitled to make representations as to why his loans should not be taken over by NAMA.

    The report says he is "ecstatic" with the judgment. As much to do with avoiding a costs order (which I presume he did) as with the actual result I'm sure.

    He can make respresentations but very much doubt NAMA will list listen & not take his loans.

    NAMA need to take performing loans like his €2.1bn because the profit made from these will help pay for all the bad loans they take on & make losses off.


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  • #7
    crystalmice
    Registered Users, Registered Users 2 Posts: 190 ✭✭crystalmice


    Thanks guys, interesting though nothing ground breaking or unexpected IMO!


  • #8
    blueythebear
    Registered Users, Registered Users 2 Posts: 1,074 ✭✭✭blueythebear


    mydiscworld wrote: »
    He can make respresentations but very much doubt NAMA will list listen & not take his loans.

    NAMA need to take performing loans like his €2.1bn because the profit made from these will help pay for all the bad loans they take on & make losses off.


    I agree with you that they won't listen but I presume the fact that he can make those representations paves the way for judicial review proceedings when they decide to take the loans anyway. He could conceivably tie NAMA up in the courts for a very long time if he so wished.


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