Court grants stay of €170m judgment in favour of NAMA

The High Court has granted three companies in the Dublin-based Moritz Group a stay for three months on entry of orders requiring them to repay more than €172m to the National Assets Management Agency (NAMA).

The agency had opposing the stay application. However the companies argued that a stay would help the save jobs within the group and allow them realise and maximise the value of assets for their benefit and NAMA's.