Treasury Holdings to challenge Nama in High Court

Added: 21-02-2012

The High Court will be the setting today for a showdown between Treasury Holdings and Nama.

Callside Developments - a subsidiary of Treasury Holdings - is behind the planned 80 million euro Wine Street Car Park Development in Sligo.

Treasury is challenging NAMA's decision to appoint receivers to some of its properties.

It's  trying to overturn NAMA's appointment of receivers to take control of parts its property portfolio.

At stake is real estate in Dublin's Docklands, Stephen's Green, Ballymun and beyond.

The assets have been pledged as security for NAMA loans of 500 million euro.

Treasury Holdings, which is one of the bad bank's top ten biggest debtors, believes the move could disastrously effect its overall business.

Over a 4 day hearing, Treasury's lawyers will ask the High Court for permission to challenge NAMA's decision and they'll seek temporary orders stopping the receivers from taking action.


C

+++