Dispute between Nama & liquidator

cronley

Registered User
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I was in the process of buying a house from a building company whose loans had been transferred from the banks to Nama. Nama allowed the builder to go ahead with the sale of the house to me. I signed the contract. But before the builder signed the contract, he did a voluntary liquidation and appointed a liquidator to the company. I want to go ahead with buying the house, but now there is a dispute between the liquidator & Nama about whether I should give the money to Nama or liquidator, and it is not clear who should sign the contract for the seller. My solicitor says this is new territory & could be slow to sort out.
Any views on how to resolve this and proceed with the conveyance. Is the liquidator subordinate to Nama. What was the point in appointing a liquidator, when Nama had taken over builders loans. I dont see how the liquidator can sell any of the houses, without permission from Nama. Why did Nama not stop the liquidator being appointed. I am keen on the house. What can I do to stop the nonsense between the liquidator & Nama legal people, and get the contract finalised. Is there clear law on a situation like this.
 
The vendor is unknown and has not signed the contract. So they are under no obligation to sell.

You will have to wait it out.
 
This is too big for you or your solicitor to handle. As he says it's new territory. Walk away until it is sorted. Get your solicitor to cut up the contracts.
 
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