Treasury to challenge Nama move to appoint receivers

Treasury Holdings has been granted a preliminary High Court hearing, for this morning, challenging a move by Nama to appoint receivers to a number of its Irish-based properties following the non-repayment of the company’s loans to the agency.

The property company applied for a judicial review yesterday, which was granted by Justice George Birmingham, essentially blocking any immediate move by Nama. A preliminary hearing will be heard this morning.

Treasury’s move is an attempt to block Nama appointing receivers — believed to be PricewaterhouseCoopers and Ernst & Young — to a number of its Irish-based assets, after a deadline of 4pm yesterday was passed without Treasury repaying its outstanding loans to the agency.