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Judge takes swipe at NAMA over hold-ups

A HIGH Court judge has said delays by NAMA in making decisions are frustrating the work of the Commercial Court and imposing unnecessary additional costs on the taxpayer.

Mr Justice Peter Kelly said he could not have a situation where the work of the Commercial Court is "sterilised" because NAMA is considering matters over "an inordinate period".

Several cases had been delayed due to NAMA not making decisions, this was "of no benefit to anyone", he said.

The judge made the remarks after being told yesterday a NAMA decision was still awaited on a proposal from the Minister for the Environment in an effort to settle a €40m claim by Durkan New Homes (DNH) against the minister as successor to a State agency, the Affordable Homes Partnership (AHP).

The case relates to alleged failure to honour a contract under which AHP agreed to swap Harcourt Terrace Garda Station in Dublin for 215 affordable housing units in the greater Dublin area.

NAMA was asked on May 30 last to make a decision on the minister's proposal, which had then been with NAMA for a few weeks, but that decision was still outstanding, the judge was told.