Golf boss appeals after court rules NAMA owes him nothing

John Mulligan Twitter Email

August 09 2012 04:43 AM

A US golf executive is appealing a court decision in Georgia that handed victory last month to NAMA in a $2m-plus (€1.6m) contract dispute.

James Vanden Berg had been hired to manage the Georgia Golf Club in 2001 by Barber Creek Land.

Former tax inspector and one-time property mogul Derek Quinlan had been a major shareholder in Barber Creek Land.

Loans attached to the development had been acquired by NAMA, which sold the golf club last year at an $80m loss.

Mr Vanden Berg sued NAMA, claiming he was entitled to $2.1m (€1.7m) in outstanding fees for managing the golf course. NAMA insisted his contract was "vague".

Last month, a judge ruled in favour of the toxic bank, rejecting Mr Vanden Berg's claim and ordering him to pay NAMA's costs.

But Mr Vanden Berg has now appealed the court's decision. Court documents have been filed in recent days with the Georgia court.

On Monday, his defence counsel was named. Mr Vanden Berg will be represented by Michael Kohler, an experienced lawyer with a large Atlanta law firm.

The appeal is likely to take a considerable amount of time to work through the court.

NAMA has become embroiled in legal action with developers such as Treasury Holdings as it deals with loans it now has on its books.

Just over a week ago, Treasury was denied leave to seek a judicial review of the manner in which NAMA had dealt with the firm's €1bn in loans and how it had appointed receivers to Treasury property in Ireland.