Former NAMA developer David Daly and his wife Mary, have both launched a libel action against Independent News and Media in Dublin’s High Court. The application – reference 2012/12802 P – was made in the High Court on 18th December 2012. The applicants are shown by the Court Service as David Daly and Mary Daly, both represented by top-tier solicitors LK Shields. Independent Newspapers [Ireland] Limited is represented by Simon McAleese. The only filing on record is Simon McAleese coming on record on 11th January, 2013.
What’s it all about?
We don’t have the application so can’t be definite about the cause and remedy sought, but an apology in the Independent last Thursday 17th January 2013 might give some clues. It includes the following
“AN article on December 20, 2011 concerning a settlement reached between property developer David Daly, his family and NAMA incorrectly stated that it included the reversal of a 2009, €80m cash/property asset transfer by Mr Daly to his wife, Mary Daly.”
It is the Phoenix Magazine in Dublin, out yesterday that claims the Daly action against the Independent is a libel action.
NAMA moved against David Daly in June 2011, exclusively reported on here, and sought to appoint administrators to a range of UK property including prime property on the prestigious Bond Street in London’s West End. David Daly responded with gusto and launched a legal action against NAMA in Dublin which promised to be a real humdinger when it came to the substantive case, but then in December 2011, a settlement was announced by NAMA and David refinanced his loans out of NAMA.
We hardly need to repeat the specifics that are subject to any libel action, but it appears to concern reporting of an aspect of the settlement that was reported in general terms by NAMA in December 2011.
NAMA Wine Lake 
One would think that those employees of the Independent would be grateful that their largest shareholder… Mr Dennis O’Brien has deep pockets to pay for all their mistakes.
But no….
This is an obvious shot across the bow of an unfree press. Can’t blame NAMA Wine Lake for pulling its punches. Needs to start playing the developers’ game. Set up a subsidiary in a country with a free press — e.g. one with something such as U.S. “First Amendment” protection.