THE SUPREME Court appeal by property investor Paddy McKillen, aimed at preventing the transfer of e €2.1 billion in loans to the National Assets Management Agency, will be heard before December 21st.

Chief Justice Mr Justice John Murray told lawyers for Mr McKillen and Nama yesterday that the appeal would be heard before the end of this law term – December 21st – and “perhaps significantly before then”. Mr Justice Murray could not say if the judgment would be delivered by December 21st.

Earlier, Maurice Collins SC, for Nama and the State, said he regarded the case with “extreme urgency” and was prepared to continue a stay restraining transfer of the loans to Nama if the appeal was heard this term.

Mr Collins noted the High Court had certified one issue for determination in the appeal in addition to the constitutional issue raised by Mr McKillen. However, in the interests of securing a speedy appeal, he would not seek to make points as to the breadth of the appeal.

Michael Cush SC, for Mr McKillen, said the books of appeal would be lodged within seven days. Mr Collins said he would respond with submissions and appeal documents within a further seven days.

Mr Justice Murray said the appeal would be heard this term but it was difficult to fix a date until all the appeal documents were lodged. It would take a lot of work to go through all the documents and the Supreme Court was the only court in the EU without the resources to assist it in such work.