AG: No 'special category' for McKillen

The Attorney General Paul Gallagher has said there is no "niche or special category" for a property tycoon who has mounted a legal challenge to NAMA.

Developer Paddy McKillen is disputing NAMA's decision to acquire a multi-million euro Bank of Ireland loan.

The State says that Paddy McKillen's legal challenge is premised on a mischaracterisation and misunderstanding of the NAMA act.

The Belfast-born property developer claims the transfer of €211m of his loans to the State's bad bank is a breach of his constitutional rights.

In presenting the State's case the Attorney General said Mr McKillen had it in his power to avoid the transfer if he had refinanced his loans.

Mr Gallagher said he could have done so when the warning signs were there in 2008 or when the NAMA bill was published in July 2009.