Republic of Ireland Law
Republic of Ireland Law Questions Answered by Experts
1. Dear *****, you would be a fool to sign any contract for sale which obliges you to indemnity NAMA. So, you should instead, go back into court and ask Judge O'Hagan to instead give directions on the issue. Otherwise, the effect of the order previously made by Judge O'Hagan is set at nought. So, you should either strike out the clause which obliges you to indemnity NAMA if you wish to sign the contract for sale or else, if this turns out not to be acceptable, you should go back into Judge O'Hagan and seek directions on the issue. Essentially, if you agree to indemnity NAMA then you got nothing of value when you go your court order. An indemnity is like a guarantee. So, here, there is no reason why you, as purchaser, should be indemnifying NAMA.
2. So, you should not sign any contract which includes a term which indemnifies NAMA. You can strike that term from the contract if you wish and then sign it, initialling the clause which you struck out. If this is acceptable, as NAMA have told you, then they should have no difficulty in accepting it. If not, then you will have to go back into court.
3. Please Rate or Accept the Answer as unless you do so your Expert will not receive payment from the website for answering your question.