Dalys ‘have right to be heard’ on NAMA loan demands

DEVELOPER David Daly and his children have been given leave by the High Court to challenge NAMA’s demand that they repay €457 million they owe Allied Irish Bank.

Mr Daly, his daughter Joanne and son Paul failed in a bid to obtain injunctions restraining the activities of AIB-appointed receiver Jim Hamilton over their Irish assets, and NAMA-appointed receivers Shay Bannon and Sarah Rayment over British assets, including trophy London properties.

Mr Justice Michael Peart gave them leave to proceed with their legal challenges on the family’s contention they should have been heard by NAMA prior to the agency issuing letters of demand for repayment of loans.