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McKillen in appeal to reclaim NAMA loans

THE Supreme Court has been asked to overturn a High Court decision over the transfer of property investor Paddy McKillen's loans to NAMA.

A seven-judge court yesterday began hearing Mr McKillen's appeal, which is aimed at preventing the proposed transfer to NAMA of some €2.1bn loans made to himself and his companies.

That proposed acquisition would be "a commercial disaster" for Mr McKillen and was based on a total denial of his constitutional right to fair procedures, Michael Cush SC, for Mr McKillen, argued.

Mr Cush stressed that unlike many others going into NAMA, Mr McKillen was not a loan defaulter and that most of his loans were performing.

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