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Supreme Court to hear McKillen appeal 'in days'

DEVELOPER Paddy McKillen, who lost a High Court bid to prevent €2.1bn in loans going to the National Assets Management Agency (NAMA), will move his Supreme Court appeal within days, writes Tim Healy.

Legal sources have indicated that the Supreme Court will fast-track the appeal and the case could be heard as early as this Thursday or Friday or early next week owing to the urgency and importance of the challenge to the 2009 NAMA Act.

NAMA, which expects to transfer all loans to the agency by February next, has agreed not to deal with the McKillen loans pending the outcome of the Supreme Court appeal.

Mr McKillen and 15 of his companies had sought a judicial review of the decision of NAMA to acquire their Bank of Ireland loans, estimated by them at €211m and by NAMA at €297m, but the case had implications for NAMA's intention to acquire his €2.1bn loan portfolio.

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