Results 121-140 of 7,781 for nama

Written Answers — National Asset Management Agency: National Asset Management Agency (11 Jan 2012)

Michael Noonan: Both the Chairman of NAMA and I have separately explained on several occasions over the past few months that NAMA decides whether or not to work with any particular debtor on the basis of what will generate the maximum return for the taxpayer. NAMA only works with developers where it considers that this will provide the best return to the taxpayer. NAMA will continue to make its decisions on...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Mar 2012)

Michael Noonan: I propose to take Questions Nos. 155 and 156 together. As previously advised, NAMA, in agreeing business plans it approves the retention of overheads by debtors which include remuneration but at rates much reduced from that previously applied. NAMA deals with about 800 debtor connections, either directly or through the participating institutions acting on its behalf. Each debtor's...

Written Answers — Department of Finance: NAMA Debtors (12 Feb 2013)

Michael Noonan: I propose to take Questions Nos. 231 to 233, inclusive, together. NAMA advises that its role as a secured lender does not extend to determining or restricting the clubs or associations to which individuals debtors may belong. Nor is NAMA in a position to dictate a debtor’s choice of holiday location. NAMA seeks to ensure that income generated by assets securing NAMA loans is...

Sale of Booterstown Marsh (15 Nov 2011) See 1 other result from this debate

Mary Mitchell O'Connor: I raise the sale by NAMA of land known as the Ash Castle site on the border between Dún Laoghaire-Rathdown County Council and Dublin City County Council. The site is adjacent to Booterstown Marsh which is a nature reserve. I refer the Minister of State to page 8 of the properties subject to the enforcement action of NAMA on the NAMA website. However, if the Minister checks the NAMA...

Written Answers — Departmental Agencies: Departmental Agencies (20 May 2010)

Brian Lenihan Jnr: There is a rigorous appointment process regarding officers of NAMA by the NTMA, which fully deals with any actual or potential conflicts of interest. It is a condition of assignment as an officer of NAMA that there is no material conflict of interest. Each employee of NTMA assigned as a NAMA Officer has to complete a statement of assets, liabilities and interests where all matters are...

Written Answers — Departmental Staff: Departmental Staff (13 Oct 2009)

Brian Lenihan Jnr: Under the interim NAMA arrangements staff resources are provided by the NTMA. The NAMA Bill confirms this arrangement and also provides that NAMA may outsource certain activities and hire certain service providers. I am not in a position to comment on the details of individuals that have or will in the future be recruited to NTMA and assigned to NAMA. However, it is important to note that...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009) See 23 other results from this debate

Larry Butler: A point was made earlier today that the banks did not intend to honour an €11 million cheque paid out by a certain company for a contract because of the NAMA commitment. If NAMA is not a working body at present, how can the banks make that statement? The lending institutions must be careful about what they are doing at this time. It is not right to use legislation that has not yet left...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Mar 2012)

Michael Noonan: The appointment of this firm to the Corporate Legal Services Panel was announced publicly on the agency's website on 3 January 2012. I am advised by NAMA that this particular firm had in fact been long-standing legal advisors to Treasury Holdings. I am further informed that the firm ceased acting for Treasury Holdings in January 2012 when Treasury Holdings decided to take legal action...

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

Michael Noonan: I am advised that, at 31 March 2015, NAMA's carrying value of loans, net of  cumulative impairment provisions of €3.250bn, was €12.528 billion and the nominal amount of contractual par debt outstanding from NAMA debtors was €54.899 billion. This information and additional information on the value and performance of NAMA loans...

Written Answers — National Asset Management Agency: National Asset Management Agency (13 Oct 2009)

Brian Lenihan Jnr: The decision as to whether or not a loan is acquired will be a matter for the NAMA Board to determine. The NAMA valuation process will take into account all relevant aspects of a borrower's circumstances and the quality of assets which may be eligible for NAMA acquisition. Where a loan has been written down, e.g. by way of a receivership, NAMA will take that into account when determining...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Pearse Doherty: Okay, that's fine. In relation to Brendan McDonagh ... Brendan McDonagh was before the banking inquiry and he gave evidence in relation to dealing with developers and how NAMA was established. And you talk about the efficiency in terms of NAMA. Mr McDonagh talked about, and I'll quote him, he says, "Probably about €300 million of that additional security, debtors decided that they...

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

Brian Lenihan Jnr: The NAMA legislation provides for an annual statement to be produced by NAMA and for NAMA to submit quarterly reports, which I will make available to the Oireachtas. The first of these quarterly reports is in respect of the quarter ended 31 March 2010 and is due to be submitted to me on or before 30 June 2010. The draft Business Plan, published by the interim NAMA in October 2009, sets out...

Written Answers — Department of Housing, Planning, Community and Local Government: Social and Affordable Housing Provision (19 Jan 2017)

Simon Coveney: 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 Transactions (14 Feb 2019)

Paschal Donohoe: I am advised that Section 172(3) of the NAMA Act 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. NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured assets confirming that they are in compliance with Section 172(3)...

Seanad: NAMA and Irish Bank Resolution Corporation Transparency Bill 2011: Second Stage (6 Jun 2012) See 1 other result from this debate

Trevor Ó Clochartaigh: ...fáilte roimh an Aire Stáit. Ba mhaith liom fáilte a chur roimh an mBille seo thar ceann Sinn Féin. Cuirfidh muid fáilte roimh rud ar bith a chinnteoidh go bhfuil an eagraíocht ar a dtugtar NAMA níos oscailte agus níos trédhearcaí. Tacaím le cuid mhaith den mhéid a dúirt an Seanadóir Michael D'Arcy maidir leis an imní atá ar dhaoine os rud é nach bhfuil an dream atá...

Written Answers — Department of Finance: NAMA Property Sales (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 306 and 307 together. I am informed by NAMA that it is aware of only one transaction involving the sale of property by a NAMA debtor to a former employee. After NAMA became aware of the particular transaction involved, it instructed its internal auditors, Deloitte, to carry out a comprehensive review of the transaction. The Deloitte review has established...

Written Answers — Department of Finance: NAMA Operations (29 Jun 2017)

Paschal Donohoe: The Deputy will be aware of my response to Parliamentary Question 246 of 20 June 2017 regarding the same topic. In that response I explained that NAMA is required, under Section 10 of the NAMA Act 2009, to obtain the best financial return from its acquired loans. I also explained in my previous response that, among the measures adopted to achieve this statutory objective, NAMA enters...

Written Answers — Department of Finance: State Aid Investigations (30 Nov 2017)

Paschal Donohoe: In late 2015, a complaint was submitted to the Competition Directorate of the European Commission (DG Comp) by a small number of property developers - including some former NAMA debtors - alleging that there may be State aid implications to NAMA's providing financing for the development of commercially viable residential projects by some of NAMA's debtors and receivers. As the...

Written Answers — Department of Finance: National Asset Management Agency (14 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 381 to 383, inclusive, together. As the Deputy will be aware, NAMA does not own properties, it owns loans. The properties securing NAMA’s loans are owned by debtors. These debtors, or receivers in the case of enforcement, manage and control the properties. If a State body expresses interest in a property secured to NAMA, NAMA will facilitate...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own land in Kildare, rather NAMA acquired loans for which land and other properties act as security. The secured properties are owned and controlled by their registered owners, or appointed receivers, in the event of enforcement. Sections 99 and 202 of the NAMA Act prohibit NAMA from disclosing confidential debtor information, including the...

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