Results 61-80 of 8,690 for nama

Written Answers — Department of Finance: NAMA Receivers (25 Mar 2014)

Michael Noonan: NAMA advises that a total of 258 receiver appointments have been made to date in Ireland. Appointments have been made to both commercial entities and to specific properties across various sectors. NAMA advises that receiver appointments include those made prior to the acquisition of the loans by NAMA. Receiver appointments by the participating institutions include appointments made since...

Written Answers — Department of Finance: NAMA Code of Conduct (18 Sep 2012)

Michael Noonan: I am informed by NAMA that all of its officers are provided with a copy of the Code of Practice – Conduct of Officers of NAMA when they are assigned to NAMA and they are required to sign an undertaking that they have read, understood and will comply with it. This document, which is published on www.nama.ie, sets out in detail the obligations of officers of NAMA with respect to...

Redundancy Payments (14 Dec 2011)

Ciarán Cannon: I am replying to this Topical Issue Debate on behalf of my colleague, the Minister for Finance, Deputy Michael Noonan. Reports in the media suggest that due to its assets having been frozen by NAMA, the employees of the Vita Cortex plant in Cork are being deprived of redundancy payments. In particular, it is reported that NAMA has control over a company bank account with cash assets of...

Public Accounts Committee: Business of Committee (27 Nov 2013)

Áine Collins: I have a concern in regard to NAMA. I have got some information from people who are supplying some services to NAMA and they have advised that NAMA is very slow to pay the SME sector for any business those in the sector have done on finishing off properties and so on. Also, it is very hard to get information from NAMA. The people who are dealing with NAMA versus Ulster Bank, ACC or the...

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Jun 2011) See 1 other result from this answer

Michael Noonan: I assume that the Deputy is referring to NAMA debtors. A register of bankrupts is available at the Office of the Examiner of the High Court and I am advised by NAMA that bankruptcy searches are carried out by NAMA as a matter of course on any personal borrower/guarantor prior to the advance of new funds or on a restructure. Bankruptcy searches are also carried out prior to loan acquisition....

Written Answers — Proposed Legislation: Proposed Legislation (8 Jul 2009)

Brian Lenihan Jnr: The Deputy will be aware that the establishment of NAMA and the interim preparations, including the drafting of legislation, are being overseen by a NAMA Steering Group established by me. The Group comprises representatives of my Department, the NTMA and the Attorney General. To date, the interim NAMA has managed three tender competitions covering (i) banking and financial advice, (ii) tax...

Written Answers — Department of Finance: NAMA Property Sales (4 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 60, 62 and 63 together. NAMA works closely with its debtors to identify opportunities to enhance asset values through the planning process and it therefore evaluates carefully all requests to fund planning applications.  In a large majority of cases, NAMA agrees to such requests and is currently supporting its debtors to advance a number of significant...

Written Answers — Department of Finance: NAMA Portfolio (16 Jan 2018)

Paschal Donohoe: The Deputy will be aware that NAMA does not own property. Instead NAMA acquired loans and its role is as a secured lender. The property itself continues to be owned and managed by the property owner, or receiver where one has been appointed. Sections 99 and 202 of the NAMA Act 2009 preclude NAMA from disclosing information relating to NAMA debtors, their finances and their property. As...

Other Questions: NAMA Assets Sale (23 Jun 2016)

Michael Noonan: NAMA's purpose and objectives are set out in the NAMA Act as established by the Oireachtas. NAMA's primary objective is, as per section 10 of the NAMA Act, to obtain the best achievable financial return for the State and to deal expeditiously with its assets in achieving this objective. The strategy which NAMA adopts in pursuing its objectives is a matter for the...

Written Answers — Department of Finance: NAMA Staff Transactions (18 Sep 2012)

Michael Noonan: I am informed by NAMA that it does not, in all cases, have information on the identity of employers who recruited staff following their resignation from the Agency as some former staff have taken up employment overseas. However, in cases where NAMA has such information, NAMA is satisfied that no sales transactions have taken place between the entities involved and NAMA, its debtors or...

Written Answers — Department of Finance: NAMA Property Sales (26 Apr 2016)

Michael Noonan: I wish to clarify my role, as Minister for Finance, in relation to NAMA and the powers of direction afforded to the Minister under the NAMA Act 2009. Under Section 14(1) of the NAMA Act 2009 "[t]he Minister may give a direction in writing to NAMA concerning the achievement of the purposes of this Act". Section 2 of the NAMA Act 2009 outlines its purposes. NAMA has a well established...

National Asset Management Agency (5 Jul 2012)

Michael Noonan: The debt repayment goals for the National Asset Management Agency, NAMA, have been set by its board and include several targets set out over three-year periods. These are a repayment of 25% of NAMA senior bonds by the end of 2013, 50% by the end of 2016, 90% by the end of 2019 and full repayment of NAMA senior bonds by the end of 2020. These targets are based on a combination of expected...

Written Answers — Department of Finance: NAMA Legal Cases (11 Dec 2018)

Paschal Donohoe: The Deputy will be aware that Section 172(3) of the NAMA Act 2009 is a legal provision preventing any interest in property held as security for loans acquired by NAMA from being sold back to defaulting debtors, or persons acting on behalf of defaulting debtors. In order to ensure compliance with Section 172(3), I am advised that NAMA has a policy of obtaining written confirmation from...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009)

Brian Lenihan Jnr: It will only be possible to determine the eligible assets for transfer to NAMA following the enactment of the NAMA legislation. This will allow for the designation of participating institutions and the designation of eligible assets among other issues. Then the valuation methodology, which is subject to EU approval, will be applied by NAMA on an asset by asset basis to determine the valuation...

Written Answers — Department of Finance: National Asset Management Agency (6 Jul 2021)

Paschal Donohoe: All NAMA staff are employees of the NTMA as Section 42 of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign staff to NAMA. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. ...

Written Answers — Department of Finance: NAMA Assets Sale (18 Nov 2015)

Michael Noonan: The carrying value of NAMA loans and receivables as at 30thJune 2015 was €11.275 billion.  This comprises gross loans and receivables of €14.7 billion and loan impairments of €3.47 billion.  Further analysis on this is available in Note 14, p. 29, of NAMA's Quarterly Report and Accounts for the period to end June 2015.  These accounts are available on...

Written Answers — National Asset Management Agency: National Asset Management Agency (4 Oct 2011)

Michael Noonan: NAMA has a commercial remit and a statutory objective to generate a return for the taxpayer. However, within the context of its commercial remit and consistent with section 2 of the National Asset Management Agency Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives. Thus NAMA is open to facilitating the work of public...

National Asset Management Agency (23 May 2012)

Michael McGrath: This issue goes to the heart of the need for transparency in the operation of NAMA. This came to my attention because of the sale of a 450 acre land bank outside Cork city. It was sold by agents appointed by a NAMA debtor and the sale was completed without the property being put on the open market. On further investigation, it appears this is not an unusual occurrence. NAMA is hiding...

Written Answers — National Asset Management Agency: National Asset Management Agency (25 Apr 2012)

Michael Noonan: The ECB did not provide loans to NAMA to acquire assets from the participating institutions. NAMA issued Senior Notes to the Participating Institutions which can be extended annually subject to the agreement of the note holders. NAMA has already redeemed €1.25bn of these Notes. I am advised that the objective of the NAMA Board is to redeem all Senior Notes on a phased basis by the end of...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Dec 2009)

Brian Lenihan Jnr: It is envisaged that the NAMA Master SPV will be set up shortly after NAMA is established. It will be jointly owned by private investors, who will own 51% of its ordinary equity, and by NAMA, which will hold the remaining 49% ordinary equity. The Master SPV will have its own Board, with members appointed by NAMA and possibly members appointed by the private sector equity investors. The...

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