The Commercial Court has allowed one of two issues raised by developer Paddy McKillen in his challenge to the National Asset Management Agency to be appealed to the Supreme Court.

The appeal could go before the Supreme Court before the end of this week.

Under the NAMA legislation, there is an automatic right of appeal for Mr McKillen in relation to the constitutionality of the legislation.

But the High Court had to certify that other issues he wanted to raise in his appeal were of exceptional public importance and it was in the public interest that the appeal be taken.

The court ruled today that the point raised by Mr McKillen's legal team that he had been denied his right to fair procedures because he had not been given the opportunity to make representations before a decision was taken to acquire his loans was of exceptional public importance and could go to the Supreme Court.

However, it refused to certify the point made by Mr McKillen that the European Commission's decision meant only impaired borrowers could be taken in to NAMA.

Mr Justice Nicholas Kearns said the relevant section of the legislation did not expressly exclude Mr McKillen from relying on issues that were not certified in his appeal.

But Mr Justice Kearns said that was an issue solely for the Supreme Court.

Mr McKillen is trying to stop the transfer of €2.1bn of loans to NAMA.