Treasury and Nama await judgment

A High Court judge has reserved judgment on the challenge by troubled developer Treasury Holdings to Nama’s decision calling in more than €1bn of its loans and appointing receivers over its properties here.

The seven-day hearing concluded yesterday before Ms Justice Mary Finlay Geoghegan who reserved her decision. The judge indicated she will give judgment by the end of this law term on Jul 31.

Treasury, which is insolvent with total debt of more than €2.7bn, has argued the decision calling in its loans was made without notice to it and without giving it a proper opportunity to be heard.