Results 81-100 of 8,235 for nama

Written Answers — Department of Finance: NAMA Property Sales (1 Oct 2013)

Michael Noonan: I have not publicly requested that NAMA defer this property sale; the property in question has been for sale on the open market for some time, which allowed any interested buyer to make their interest known to NAMA. This property was sold at auction on the 27th of September. As the Deputy will be aware that given the independence afforded to NAMA by the NAMA Act, and having established...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: A review of NAMA was carried out by Mr. Michael Geoghegan in 2011 at the request of the NAMA Board and with my agreement. In his report he made a number of proposals to the Board of NAMA including the appointment of a Chief Financial Officer (CFO). These proposals were considered by the Board and, on 15th February 2012, NAMA announced a reorganisation of functions, the establishment of new...

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 189 to 192, inclusive, together. NAMA's tax affairs, and the legal structures it utilises to carry out its mandate, are a matter for NAMA to determine within the perimeter of its mandate and applicable law, including tax law.  As we know the establishment of Section 110 companies is completely legal as it is permitted under Irish law and tax codes....

Written Answers — Department of Finance: NAMA Portfolio (27 Sep 2016)

Michael Noonan: The Deputy will appreciate that NAMA does not own or sell properties.  It has acquired loans and its relationship to the properties securing those loans is, like a bank, that of a secured lender.  NAMA is bound by both statutory and contractual obligations of confidentiality. Neither NAMA nor I can comment on individual cases. Specifically, NAMA is subject to similar...

Written Answers — Department of Finance: National Asset Management Agency (25 Feb 2021)

Paschal Donohoe: NAMA was established with a very specific legal mandate, which was approved by the European Commission in 2010, to deal expeditiously with its acquired loan portfolio and to extract best value from that portfolio. NAMA has been successful in achieving this mandate and has now entered into the final phase of this work. In relation to the delivery of residential housing, it is important to...

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: Such a direction or legislative change is not necessary as NAMA already plays a significant role in the provision of social housing and housing in general and continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing.   NAMA has an established policy of...

Written Answers — Department of Finance: NAMA Accounts (8 May 2013)

Michael Noonan: All NAMA staff are employees of the NTMA and under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. NAMA reimburses the NTMA the costs incurred by the NTMA in assigning staff and providing business and support services to NAMA. NAMA staff costs, excluding employer pension contributions and PRSI, were €21.952m in 2012. NTMA staff members...

Written Answers — Department of Finance: NAMA Loans (16 Jan 2013)

Michael Noonan: I am advised by NAMA that Sections 99 and 202 of the NAMA Act 2009 relate to debtor confidentiality, not to the sale of assets. We assume the Deputy is referring to Section 172 of the NAMA Act which relates to Limitations on certain dealings in land etc. As NAMA is not permitted to sell assets to borrowers in default, neither I nor NAMA are in a position to assess the potential foregone...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Gerry Horkan: Regarding what NAMA does and how it does it, if the Department is not happy with what NAMA is doing or how it is being done, can the Department change what NAMA is doing or is NAMA independent of the Department? Can NAMA do whatever it wants irrespective of the Department's opinion?

Written Answers — National Asset Management Agency : National Asset Management Agency (3 Feb 2010) See 1 other result from this answer

Brian Lenihan Jnr: The NAMA draft business plan published in October 2009, was prepared by the interim NAMA team for the purpose of outlining the background to NAMA and the manner in which it will carry out its functions and duties. It is important to emphasise that much of the information regarding the prospective NAMA portfolio included in this draft Business Plan is based on aggregate data which had been...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (27 Mar 2012)

Michael Noonan: NAMA has a commercial mandate to obtain the best achievable financial return on behalf of the State. It has emphasised repeatedly that one of its objectives is to instigate the sale of properties by its debtors and in order to facilitate this, it approves the sale of properties by debtors at realistic current market prices. In terms of determining an appropriate current level of pricing for...

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

Michael Noonan: The advisory group on NAMA was set up to advise me on specific issues related to NAMA. The group's advice to me primarily relates to the strategy of NAMA as proposed by the board of NAMA; the appointment of directors to NAMA; the remuneration of the senior executives of NAMA and any further advice that I may seek on any matter relating to NAMA. I have met with the group on one occasion...

Written Answers — Department of Environment, Community and Local Government: NAMA Social Housing Provision (10 Dec 2015)

Alan Kelly: The National Asset Management Agency (NAMA) funding and financial decisions are a matter for NAMA in accordance with its statutory independent commercial mandate. However, I welcome the announcement by NAMA that, within the context of that mandate, it expects to be in a position to fund the construction of up to 20,000 new residential units, predominantly located in Dublin and the...

Written Answers — Department of Environment, Community and Local Government: NAMA Social Housing Provision (10 Dec 2015)

Alan Kelly: The National Asset Management Agency (NAMA) funding and financial decisions are a matter for NAMA in accordance with its statutory independent commercial mandate. However, I welcome the announcement by NAMA that, within the context of that mandate, it expects to be in a position to fund the construction of up to 20,000 new residential units, predominantly located in Dublin and the...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

In July 2011, the NAMA board approved a repayment target for the Avestus loans, but there were errors and inconsistencies in how NAMA arrived at the target. Correcting for these errors and inconsistencies, the repayment target would have been significantly higher. NAMA told Avestus what the approved target amount was. It then went on to agree adjustments to the target with Avestus as the...

Written Answers — Department of Finance: NAMA Accounts (13 Jan 2016)

Michael Noonan: It is difficult to indicate definitively what the surplus position will be when NAMA completes its work. As the Deputy may be aware, the NAMA Chairman and Chief Executive appeared before the Joint Oireachtas Committee on Finance, Public Expenditure and Reform on 16 December 2015. At that appearance, the NAMA Chairman provided an updated estimate to the Committee when he...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (10 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 39 together. No final decision has been made as to the number of IBRC residential loans that NAMA may acquire from the Special Liquidators (SLs).  However as previously advised, NAMA has made appropriate preparations, including the selection of Pepper Asset Servicing (Pepper) through a competitive tendering process as its preferred bidder to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

David Cullinane: Paragraph 4.5 states that NAMA also requested certain assurances from Cerberus "that no fee, commission or other remuneration or payment was payable to any current or former Board member of NAMA, any current or former member of the Executive of NAMA, or any current or former member of an advisory committee of NAMA". Was that the first time Mr. Neporent was contacted by NAMA about any...

Written Answers — Construction Industry: Construction Industry (4 Oct 2011)

Michael Noonan: NAMA has a commercial remit to manage its portfolio of acquired loans and the property securing them in order to generate the best achievable financial return for the State. Following the transfer of a debtor's loans to NAMA, the debtor is requested to complete a realistic and concise business plan. The viability of the business plan of each major borrower is then assessed by NAMA. Where...

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Feb 2012)

Michael Noonan: I am advised by NAMA that it does not pay salaries to debtors or their employees as NAMA is not their employer. NAMA inform me that it is the agency's practice to allow debtor companies to retain overhead costs from rental or other income that are produced by their assets where this is necessary for the company's operations. In a minority of cases, where assets are under development and not...

Matching glossary terms:

NAMA