Developer Treasury Holdings is seeking mediation with Nama as an alternative to the litigation process it is currently involved in, according to the Irish Times.
Treasury Holdings put out a call for a third party to mediate with overseas investors looking at Irish property and loans in a statement yesterday.
Treasury Holdings’ managing director John Bruder said: “We believe an independent third party mediator, of the Government’s choice and with experience of major property deals, should be appointed to negotiate in detail with foreign investors and secure the best possible deal for the taxpayer.”
This route would most likely involve a change of management at Treasury Holdings, with shareholders Richard Barrett and Johnny Ronan stepping aside, the company conceded.
Earlier this week the Irish High Court fast tracked a dispute between Nama and Treasury Holdings over the developer’s sale of Chinese property shares at a discounted value.
sophia.furber@estatesgazette.com
