NAMA Chairman Frank Daly’s statement on Supreme Court decision

On behalf of the Board of the National Asset Management Agency (NAMA), I welcome the decision of the Supreme Court today which confirms the constitutionality of the NAMA Act.   The outcome of this hearing is an important confirmation of the legal standing of NAMA and eliminates any uncertainty in this area. 

We will study the decision carefully with our legal advisors and we note the finding of the Court that Mr. McKillen and his companies have the right to make representations to NAMA before the agency makes a decision to acquire the bank loans.

NAMA has made important progress in the 15 months since it was approved and has an important agenda of work to progress.  Our purpose remains that of operating as efficiently, objectively and fairly as possible in order to deal with the onerous task entrusted to us. 

I want to express our appreciation to the current and former Attorneys General, the CSSO (Chief State Solicitor’s Office), Department of Finance and our legal teams and the NAMA executives for the huge amount of work which they put into this hearing to defend NAMA and the Act.