Courts / Dublin / Report

Court of Appeal dismisses damages claim against NAMA

Date
2020-11-11

Stage
Appeal

Primary locality
Dublin

County
Dublin

Summary

The Court of Appeal has dismissed a damages claim brought by Vincent Byrne and Vincent Byrne Junior against the National Asset Management Agency (NAMA). The applicants alleged that NAMA failed to afford them fair procedures and provide clear reasons during the decision-making process for acquiring over €6.2m in loans from AIB. These loans, secured by a fuel station on Parnell Road, Dublin 12, and apartments on Blackhorse Avenue, Dublin, were transferred to NAMA in 2010 after the proposed development failed and the loans went into difficulty. Receivers were subsequently appointed over the properties. In 2016, the Byrnes initiated High Court proceedings, claiming breaches of their constitutional right to fair procedures and rights under the European Convention on Human Rights. They also alleged breaches of the EU Charter and State aid regulations. In 2018, Mr Justice Michael MacGrath struck out the claims regarding the EU Charter and State aid but allowed the fair procedures and ECHR claims to proceed. NAMA appealed this ruling, arguing all proceedings should be dismissed, while the Byrnes cross-appealed to reinstate their full claim. A three-judge panel comprising Ms Justice Aileen Donnelly, Mr Justice Seamus Noonan, and Mr Justice Donald Binchy unanimously ruled in NAMA's favour. The Court of Appeal dismissed the entirety of the Byrnes' claims and their cross-appeal. Mr Justice Noonan stated the claim was statute barred, as it was initiated outside the applicable limitation period of more than six years, rendering it bound to fail.