ONE OF THE MOST INTERESTING legal maneuvers is playing out in the highest courts of Ireland as the State's largest property developer takes on the National Asset Management Agency (NAMA).
From my perspective, I think the issues are personal. Some of the State-appointed receivers do not like the style or largesse of the Celtic Tiger generation. So there's some jostling for position that might have crossed the lines of acceptable commercial practise. If Treasury Holdings case holds water, it will constrain the way NAMA can do its business when those business dealings depend upon the careful guardianship of deposed developers. The High Court case should also expose some of the intricacies of NAMA's dealings and rekindle the question of why that State agency is not subject to the rigour of Freedom of Information requests.
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