Results 21-40 of 10,000 for nama

Written Answers — National Asset Management Agency Staff: National Asset Management Agency Staff (2 Feb 2010)

Brian Lenihan Jnr: The NAMA Act 2009 provides that NAMA staff members will be assigned to it from the NTMA. I am advised by NAMA that the NTMA currently has assigned ten staff to NAMA. The NAMA draft business plan published in October 2009 set out details on the proposed staffing in NAMA and its different operational units.

Leaders' Questions (Resumed) (12 Jun 2018)

Mick Wallace: Tomorrow, it will be a year to the day since the setting up of the commission of investigation into the National Asset Management Agency, NAMA, under Mr. Justice Cooke. The second interim report landed on the Taoiseach's desk last week, which shows that NAMA does what it likes. Mr. Justice Cooke asked NAMA for the 40,000 documents it gave to the Comptroller and Auditor General for his...

Written Answers — Department of Finance: NAMA Portfolio (10 Oct 2017)

Paschal Donohoe: The Deputy will be aware that NAMA does not, in general, own property.  Rather, NAMA acquired loans for which the properties act as security. Under Sections 99 and 202 of the NAMA Act,  NAMA is prohibited from disclosing confidential debtor information, including information on the location and type of assets owned by debtors. It is therefore not possible to identify...

Written Answers — Department of Finance: NAMA Operations (18 Feb 2014)

Michael Noonan: The acquisition of loans from financial institutions is governed by the NAMA Act 2009 and EU Commission approval. NAMA deploys a complex and highly sophisticated set of operating procedures from the initial acquisition of loans through to the disposal of the loans or the disposal of the property and other assets securing the loans.  I am advised by NAMA that these procedures are outlined...

Written Answers — Department of Finance: NAMA Operations (17 Dec 2013)

Michael Noonan: The sale of property is a matter for the Board of NAMA, which is guided by its independent commercial mandate under the NAMA Act and the overriding requirement to maximise the realised value of assets securing its loans and the return to the Irish taxpayer. NAMA has been established as a fully commercial agency to operate under the direction of a Board of Directors by the NAMA Act....

Written Answers — Department of Finance: NAMA Operations (13 Apr 2017)

Michael Noonan: NAMA's commercial funding activities with respect to housing delivery are referenced in the Infrastructure and Capital Investment Plan (2016-2021) under "Non Exchequer Investment".  In other words, such funding has not been provided under the Capital Plan nor through direct Exchequer expenditure. Rather, it is provided by NAMA in line with its commercial mandate under Section 10 of the...

Written Answers — Department of Finance: National Asset Management Agency (31 Mar 2022)

Paschal Donohoe: All NAMA staff are employees of the NTMA and are assigned to NAMA by the NTMA in line with Section 42 of the NAMA Act 2009. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are typically employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. Staff assigned to NAMA...

Written Answers — Department of Finance: NAMA Court Cases (5 Mar 2013)

Michael Noonan: Under the National Asset Management Agency Act 2009 (the NAMA Act) NAMA was established as a body corporate and Section 9(3) of the NAMA Act provides that "except as otherwise provided by this Act, NAMA is independent in the performance of its function under this Ac". NAMA is governed by an independent board of directors. This is a matter for Board of NAMA.

Written Answers — Department of Finance: NAMA Staff Remuneration (4 Oct 2012)

Michael Noonan: ...Nos. 81 and 82 together. I refer the Deputy to my responses to Parliamentary Questions from Deputy Patrick O’Donovan on 18 September last on the same topic which I have set out below. All NAMA staff are employees of the NTMA. Under Section 42 of the NAMA Act 2009, the NTMA assigns staff to NAMA. Other than a small number of staff reassigned from other functions within the...

State Agencies (5 May 2011)

Joe Costello: I am pleased to have the opportunity to raise this important matter. NAMA was established in May 2009 with the remit of transferring the loans on key developments and assets from the books of State-guaranteed banks in return for Government-guaranteed securities. To date, it has accumulated €40 billion of loans on its books and, as such, has an obligation to the State to realise the...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 May 2011)

Michael Noonan: NAMA advises me that the property or other assets securing loans transferred to NAMA remain in the possession of the debtor unless enforcement action is taken against the debtor by NAMA. Where enforcement action is taken by NAMA, the agency may ultimately take ownership of property but it is expected that in the majority of these instances the property will be managed by a receiver who is...

Written Answers — Department of Finance: NAMA Operations (28 Feb 2017)

Michael Noonan: NAMA was established as an independent commercial body to operate under the direction of its Board of Directors, in accordance with the NAMA Act. Under Section 10 of the NAMA Act, NAMA is mandated to act in a commercial manner to obtain the best financial return for the State.  As such, NAMA's dealings with its debtors, as well as the management, funding and sale of assets are all...

Written Answers — Department of Finance: Public Procurement Contracts (2 Dec 2014)

Michael Noonan: The NAMA Board, pursuant to Section 15.1 of the Code of Practice for the Governance of State Bodies, has implemented a procurement policy to ensure compliance with the EU public procurement rules and to ensure NAMA achieves value for money when procuring services required by the agency. The NAMA Procurement Policy applies to contracts procured by NAMA.NAMA borrowers are not governed by...

Written Answers — Department of Finance: NAMA Portfolio (15 Oct 2019)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own property, rather NAMA has acquired loans for which properties act as security. I am advised by NAMA that its debtors and receivers control a small number of properties in Newbridge, County Kildare.  Under Sections 99 and 202 of the NAMA Act, NAMA is prohibited from disclosing confidential debtor information, including information on...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Jan 2011)

Brian Lenihan Jnr: There are no proposals to make any changes to the structure of the NAMA SPV. The recent acquisition of a majority shareholding in AIB does not have any implications for the ownership structure in NAMA. While a group of clients of Allied Irish Banks Investment Managers, have invested €17m in the NAMA SPV, it is important to note that the beneficial owners of the investment are pension...

Written Answers — Department of Finance: Defective Building Materials (18 Oct 2022)

Paschal Donohoe: I wish to remind the deputy that NAMA was established as an independent commercial body and as Minister for Finance, I do not have a role in its operations or decisions. As the deputy will be aware, NAMA does not own property, rather NAMA owns loans relating to property and the properties themselves act as security for the loans. Properties commonly referred to as “NAMA...

Written Answers — Department of Finance: National Asset Management Agency (19 Dec 2012)

Michael Noonan: NAMA advises me that, given its remit under the NAMA Act, it must recruit staff with the requisite experience and expertise and that it would not therefore be possible to recruit only officers who have not worked with firms on NAMA panels. The key issue, however, is that NAMA takes steps to ensure conflicts of interest do not occur. Under Section 42 of the NAMA Act, before he or she is...

Written Answers — National Asset Management Agency: National Asset Management Agency (19 Jul 2012)

Michael Noonan: I am advised by NAMA that fees are not paid to receivers directly by banks or NAMA rather they are paid out of the proceeds of assets under receivership or the management thereof pending realisation. NAMA also advises that the costs incurred through the appointment of receivers to NAMA-managed debtor connection assets are as follows: 2010: €2 million 2011: €10.3 million The figure...

Written Answers — Department of Finance: NAMA Debtor Agreements (4 Mar 2014)

Michael Noonan: I am advised by NAMA that it has completed the assessment of all 775 debtor business plans.  I am advised that NAMA has three core strategies in place for debtors. A strategy of debtor support is in place for debtors who have 43% of NAMA debt, a restructuring strategy is in place for debtors with 26% of NAMA debt and an enforcement strategy is in place for debtors with 31% of the NAMA...

Written Answers — Department of Finance: NAMA Property Construction (19 Apr 2018)

Paschal Donohoe: At the outset, it is important to note that NAMA does not build residential property. Instead, where commercially viable, it funds residential delivery on sites controlled by its debtors and receivers. In late 2013, NAMA indicated that it aimed to fund the delivery of 4,500 homes on lands controlled by NAMA debtors and receivers over the period to end-2016. By end-2016 this target had...

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