High Court sets aside challenge to Nama Act

A decision letting a businessman to the constitutionality of sections of the 2009 Nama Act has been set aside by the High Court.

Thomas McEvaddy Sr claimed Nama’s actions displayed an intention to “pluck each and every income stream” from him and leave him “destitute”.

Thomas McEvaddy Sr and his company, Thomas McEvaddy Developments Ltd, last year secured permission to bring judicial review proceedings against Nama, the IBRC, the State, and receivers appointed over various assets of the applicants.