Court decision due today on developer's NAMA challenge

The Commercial Court is to give its decision today on developer Paddy McKillen's challenge to the National Asset Management Agency.

He is fighting against the proposed transfer of €2.1bn of his loans.

NAMA contends the size of Mr McKillen's loan portfolio represents a "systemic risk" to the financial system.

The developer disagrees and contends that his loans are all performing.

Mr McKillen also contends the move by NAMA breaches his constitutional rights to property, to earn a livelihood, to his good name and to fair procedures.

During the seven-day hearing his lawyers urged the court to reject the "apocalyptic" scenario put forward by Attorney General Paul Gallagher for the State.

The case, which was heard by a three-judge division of the Commercial Court, is due to be decided today.