Treasury Holdings says it will appeal this morning's Commercial Court judgment, which dismissed its bid to prevent NAMA appointing receivers to the company.

In the meantime Treasury wants a third party negotiator appointed to sell Treasury Holdings loans as a single deal on behalf of NAMA, rather than go through a receivership which could reseult in the company being broken up and its loans and assets sold piecemeal.

Treasury had challenged a decision by NAMA to appoint receivers to certain assets without consultation.

Treasury, one of Ireland's biggest property groups, was granted approval by the High Court in March to bring a legal challenge to the way parts of its business were put into receivership by NAMA.

In the statement, it notes that "the judgment established the principle of the right to be heard in advance of receivers being appointed".

The agency made a decision to call in the receivers in relation to 35 properties and debts of €900 million without notifying the company for over a month, Treasury said.

The moves are the latest in a legal battle being waged by Treasury against NAMA, which last year with Lloyds Banking Group took control as creditors of the Battersea Power Station site, owned by Treasury's majority-controlled Real Estate Opportunities (REO).

Ms Justice Mary Finlay Geoghegan found that a so-called standstill agreement between the two parties made in January - under which Treasury agreed not to take legal action against NAMA - effectively ended Treasury's right to seek a judicial review of NAMA's decision.

NAMA has welcomed the decision and said it will continue to work with the NAMA-appointed receivers in this case to maximise the return to the taxpayer.