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NAMA will not claim damages over data

NAMA is not pursuing former executive Enda Farrell for damages following an investigation into the alleged misappropriation of highly confidential data.

The Commercial Court was told yesterday that a decision had been made not to chase Farrell for damages -- at this point.

NAMA has concluded its investigations into the alleged misappropriation of confidential data from the agency by the former executive. It has however made a formal complaint about the matter to gardai.

It also yesterday secured orders allowing for variation of non-disclosure undertakings given by Mr Farrell so as to allow him provide information sought by the Garda.

Cian Ferriter, for NAMA, sought a number of orders following the completion of the agency's investigation into the matter.

Frank Callanan, for Mr Farrell and his wife Alison Kramer, consented to the orders.

Mr Ferriter said his side had obtained commitments from the recipients of the data concerning its preservation, non-use and confidentiality.

He sought and secured permanent injunctions on consent restraining Mr Farrell, his wife, and all those with knowledge of the making of the orders, using or dealing with the information.

Mr Ferriter said NAMA had also written to Mr Farrell's solicitors saying it had decided it was not pursuing a damages claim at this juncture but was reserving its rights in that regard.

Mr Justice Peter Kelly made the orders sought and adjourned to next week an application for NAMA's costs against the defendants so as to allow Mr Callanan take instructions on that issue.

NAMA and the National Treasury Management Agency last September brought the proceedings against Mr Farrell and his wife, an auditor in the Dublin office of Ernst & Young, arising from the alleged misappropriation of the information.

hnews@herald.ie


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