The head of the Labour Relations Commission Kieran Mulvey has said it is up to the owner of Vita Cortex in Cork to pay redundancy money owed to workers who have lost their jobs.
Talks between both sides in the dispute broke down at the LRC on Friday night and the 32 workers are now in their sixth week of a sit-in protest at the Ballyphehane plant.
The owner has said his company is not in a position to make the redundancy payments and he is now in talks with NAMA.
However, Mr Mulvey of the LRC has said it is not NAMA's job to resolve the dispute.
Mr Mulvey said: "What's separating the parties here is €374,000. In the business of industrial relations it is a drop in the ocean.
"It is not for NAMA to give the nod, it is for the beneficial owner of Vita Cortex. Nama have to be careful that they also, in their circumstances, are not diluting assets to the benefit of someone who is in NAMA and who probably, privately, has the capacity to pay."