Irish taxpayers could end up paying hundreds of millions more to bondholders on the basis of a ruling in Britain’s High Court.

The National Asset Management Agency is free to transfer loans without restriction, according to the English Court of Appeal ruling on the transfer of the Maybourne Hotel Group to the Barclay Brothers.

The English Court of Appeal has found in favour of NAMA in relation to a high-profile claim brought against it by Irish developer Paddy McKillen.