Results 101-120 of 8,074 for nama

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Feb 2010)

Brian Lenihan Jnr: The estimates I provided in September in relation to the prospective NAMA portfolio were based on aggregate information provided by the relevant financial institutions. At all times I stressed that information on the actual price to be paid for loans would only become clear following a loan by loan assessment once NAMA was established. Preparatory work on the transfer of assets is now under...

Written Answers — Department of Finance: NAMA Communications (21 Jun 2016)

Michael Noonan: I propose to take Questions Nos. 151 and 152 together. Section 221 of the NAMA Act makes it an offence to lobby NAMA and an offence to not report such lobbying to the Gardai.   The section of the Act sets out what is meant by lobbying and contains explicit provisions regarding communication with NAMA in an individual's professional capacity or in the public interest. ...

Written Answers — Department of Finance: NAMA Assets Sale (22 Mar 2016)

Michael Noonan: I propose to take Questions Nos. 62 and 63 together. The Deputy will be aware that NAMA does not own residential or commercial property and therefore is not in a position to sell such properties to any prospective purchaser. Rather, NAMA has acquired loans and its role is that of a lender with claims over security for its loans, like a bank, rather than a property owner or lessor. The...

Ceisteanna - Questions - Ceisteanna ar Sonraíodh Uain Dóibh - Priority Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: The Deputy is correct that the NAMA legislation lays out the objectives by which NAMA must ensure any transaction meets certain criteria. However, deeming whether the criteria are met is work for NAMA and it then has a relationship with the Comptroller and Auditor General on the oversight of its operations. That is where the key statutory oversight facility is. It is with the Comptroller...

Written Answers — Department of Finance: NAMA Operations (29 Sep 2015)

Michael Noonan: As I have previously outlined to the Deputy, in Dail Question No. 133 on 16th June 2015, in mid 2014 my officials produced a special report on NAMA's activities in compliance with Section 227 of the National Asset Management Agency Act 2009.  This report assessed the extent to which NAMA has made progress toward achieving its overall objectives and whether...

Written Answers — Department of Finance: NAMA Property Sales (3 Oct 2013)

Michael Noonan: I do not intend to use my powers under Section 14 of the NAMA Act to direct NAMA on the sale of this property. The property in question was sold at auction on the 27th of September and had been for sale on the open market for some time, which allowed any interested buyer to make their interest known to the seller. As the Deputy will be aware that given the independence afforded to NAMA by...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Apr 2010)

Brian Lenihan Jnr: There are substantial provisions already in the NAMA Act dealing with transparent reporting by NAMA and oversight of NAMA by the Oireachtas. This subject was extensively debated during the course of the NAMA legislation through the Oireachtas. In particular, the Act provides for NAMA to submit to me quarterly reports, which I shall lay before each House of the Oireachtas, as well as sending...

Written Answers — Department of Finance: NAMA Assets Sale (7 Feb 2017)

Michael Noonan: The Deputy will be aware that I, as Minister for Finance, have no role in respect of sales by NAMA debtors or receivers or the sale of loans directly by NAMA. As the Deputy will also appreciate, these are matters for the NAMA Board in accordance with its statutory independent commercial mandate. Under Section 12 of the NAMA Act 2009, NAMA may "sell or dispose of the whole or any part...

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

Michael Noonan: I am advised by NAMA that the total cost of pension provisions for NAMA staff in the 12 months ending December 2011 was €1.8m, as disclosed in note 36 of NAMA's 2011 audited financial statements. All NAMA staff are employed by the NTMA and the cost of pension provision represents the employer contributions made by the NTMA to the NTMA Pension Scheme on behalf of staff assigned to...

Public Accounts Committee: 2011 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 2 - Government Debt
Chapter 4 - National Pensions Reserve Fund
Chapter 25 - Accounts of the National Treasury Management Agency
National Treasury Management Agency - Financial Statements 2011
National Pensions Reserve Fund Commission - Financial Statements 2011 (22 Nov 2012)

Mr. John Corrigan: That was the basis on which NAMA was set up. The thinking at the time, as I recall it, was that locating it within the wider NTMA facilitated the rapid establishment of NAMA from a standing start. The connections between NAMA and the NTMA are limited to several shared services. The arrangement that we provide staffing to NAMA is prescribed in the NAMA legislation. The...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of IBRC: Discussion (31 Oct 2012)

Mr. Mike Aynsley: We try to run this as tightly as possible. Going back to the NAMA situation, it is important that people understand the model used. About 250 staff are directly or indirectly associated with the supporting of NAMA. NAMA has around 200 staff but that number does not include the staff sitting in those participating banks who provide services to NAMA. NAMA has effectively...

Written Answers — Department of Finance: NAMA Portfolio Issues (5 Nov 2013)

Michael Noonan: NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors or their properties. As the Deputy is aware, NAMA operates a specific Guidance Note to facilitate tenants in making an application through their landlord for a reduction in rent on upward-only commercial leases relating to business premises that secure its loans. ...

Written Answers — National Assets Management Agency: National Assets Management Agency (21 Mar 2012) See 1 other result from this answer

Michael Noonan: NAMA has no employees. All personnel are employed by the NTMA and the salary cost of staff who are engaged in the NAMA business is recharged to NAMA by the NTMA. The number of employees of the NTMA directly engaged as NAMA officers at the end of 2010 was 104 and, as set out in the National Asset Management Annual Report and Financial Statements 2010, which is posted on the NAMA website,...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: The Deputy will be aware that NAMA does not generally own properties; rather NAMA owns loans for which the properties act as security. I am advised that NAMA debtors and receivers own an estimated 675 hectares of land suitable for residential development in Ireland. NAMA regularly assesses the feasibility of these sites and, where development is deemed commercially viable; NAMA provides...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015)

Joe Costello: May I raise one further point in respect of the National Asset Management Agency, NAMA? What is the expected return from NAMA? Does the Department expect NAMA to deliver entirely on its debts? While I believe it was indicated that NAMA would produce a surplus of approximately €1 billion, the Department expects NAMA to complete its business in 2018.

Written Answers — Department of Housing, Planning, Community and Local Government: NAMA Social Housing Provision (27 Jun 2017)

Eoghan Murphy: 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 commercial...

Written Answers — Department of Finance: NAMA Assets Sale (14 Jul 2015)

Michael Noonan: I propose to take Questions Nos. 275 and 285 together. The timing of loan and asset sales is a matter for the NAMA Board by reference to its statutory independent commercial mandate, in accordance with Section 10 of the NAMA Act, passed by the Houses of the Oireachtas, to obtain the best achievable financial return for the State and to do so expeditiously.  The NAMA Chief Executive,...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Mar 2010)

Brian Lenihan Jnr: The subject of reporting by NAMA was extensively debated during the course of the NAMA legislation through the Oireachtas. There are substantial provisions already in the Act dealing with transparent reporting by NAMA and oversight of NAMA by the Oireachtas. In particular, the Act provides for NAMA to submit to me quarterly reports, which I shall lay before each House of the Oireachtas, as...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Ms Aideen O'Reilly: The exchange of e-mails between NAMA and Cerberus on 3 April was forwarded to me by the CEO. By 5.30 that evening, the legal department in Cerberus provided NAMA with the confirmation we wanted, which dealt with the NAMA connection so that no fees were payable to any current or former NAMA board or committee member or NAMA executive.

Written Answers — National Asset Management Agency: National Asset Management Agency (2 Nov 2011)

Michael Noonan: NAMA advises me that it does not directly employ developers. NAMA does, however, work with developers where it considers that this will provide the best return to the taxpayer. The alternative is to take enforcement action against a developer, which NAMA has done in 91 cases so far. I understand from NAMA that, as part of its business plan agreements with debtors, it normally looks for and...

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