NAMA does not plan to sell properties

THE National Assets Management Agency (NAMA) has told the High Court it has “no current intention” to sell properties in Britain and Ireland of developer David Daly over which it has appointed receivers.

Mr Daly and his children have challenged the agency’s appointment of a receiver over some properties after taking over personal loans of about €457m held by him and his children with AIB.

Last Friday, Mr Daly, his daughter Joanne and son Paul, initiated proceedings to prevent NAMA insisting on repayment of those €457m loans or appointing a receiver over properties.