NAMA free to transfer McKillen debts, says UK court

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.

Mr McKillen had challenged NAMA's transfer of the debts of his Maybourne group of luxury hotels in London to a company owned by UK developers the Barclay Brothers.

NAMA had first acquired MrKillen's debts in June 2010.

Today the English Court of Appeal delivered a unanimous judgment holding that NAMA was free to transfer the loans to the Barclay Brothers, without restriction.