Results 141-160 of 7,516 for nama

Seanad: National Asset Management Agency (6 Oct 2011) See 1 other result from this debate

Michael Noonan: I thank Senator Byrne for raising this issue. Section 10(2) of the National Asset Management Agency Act provides that NAMA shall obtain the best achievable financial return for the State with regard to its operations. NAMA assures me that it is fully focused on doing just that. The chairman of NAMA recently informed the Joint Committee on Finance, Public Expenditure and Reform that it...

Written Answers — Department of Finance: National Asset Management Agency (29 Sep 2020)

Paschal Donohoe: On 25th July 2019 the European Commission approved, under EU State aid rules, a limited extension of NAMA to 2025. The extension was sought to allow NAMA to continue to work through a small quantum of residual loans in order to maximise the return from these assets to the State. These loans represent less than 1% of what NAMA originally acquired and will be resolved during the period 2021...

Written Answers — Department of Finance: NAMA Operations (17 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 70 and 133 together. I am advised by NAMA that, to date, it has received 338 eligible applications for rent abatement through its debtors and receivers.  Of these 293 applications have been approved, 35 are currently being assessed and 10 have been refused.  The aggregate annual value of approved rent abatements approved to date is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: The NAMA review is ongoing at present. It is being conducted internally in consultation with NAMA. It is a requirement under the Act and we will see what it comes up with. NAMA is subject to an awful lot of criticism and adverse briefing, principally driven by developers and builders who have a vested interest in putting out bad stories about NAMA. If one examines the situation in NAMA...

Written Answers — National Assets Management Agency: National Assets Management Agency (21 Mar 2012)

Michael Noonan: I am advised by NAMA that the scenario put forward by the Deputy i.e. restrictions on access to publicly funded projects through land administered by NAMA, has not been a significant issue for NAMA. I am further advised by NAMA that it has not carried out any specific study on restrictions. However, I am informed that NAMA works constructively with all public bodies in relation to any matter...

Urban Renewal Schemes (31 Mar 2011) See 1 other result from this debate

Paul Kehoe: I am informed by NAMA that, to date, it has acquired €72.3 billion in loans from the five participating institutions for which it has paid consideration of €30.5 billion in the form of Government-guaranteed securities. In addition, NAMA may acquire up to €3.5 billion in further loans over the coming months under the existing NAMA legislative scheme. These have been held up by...

Other Questions: NAMA Staff Qualifications (3 Oct 2013)

Michael Noonan: I am aware from my discussions with NAMA, and with the NTMA which employs staff assigned to NAMA, of the difficulties being experienced by NAMA in terms of retaining and recruiting appropriately skilled and experienced staff. It is important that NAMA, on behalf of the taxpayer, has the expertise available to it to carry out its commercial mandate with the aim, at minimum, of eliminating the...

Written Answers — National Asset Management Agency: National Asset Management Agency (6 Jun 2012)

Michael Noonan: There are NAMA debtors who own properties which are leased to state agencies and who derive income from them. The properties are leased to the State by these debtors on an arms-length basis. NAMA's primary concern is whether a property is generating cash flow that allows interest and principal on the debt to be repaid by a debtor. NAMA advises me that it does not own any properties that are...

Written Answers — Department of Finance: NAMA Debtor Agreements (26 Feb 2015)

Michael Noonan: NAMA is not aware of the scenario outlined by the Deputy.  I am advised by NAMA that it does not permit its funding or income from assets belonging to its debtors to be used for the discharge of unrelated third party expenses.   NAMA approves expenditure by debtors, including the retention of certain overhead costs from rental or other income generated by a debtor's assets,...

Written Answers — Department of Finance: NAMA Operations (18 Jul 2013)

Michael Noonan: NAMA has engaged positively and proactively on this issue. To end-June 2013 NAMA had received 296 eligible applications from its debtors for rent abatement. 234 applications had been approved, 10 were refused and the remaining 52 are under review. The value of such rent reductions by NAMA is in excess of €14m per annum. NAMA issued a Guidance Note on Upward Only Commercial Leases...

Written Answers — Department of Finance: NAMA Operations (16 Dec 2016)

Michael Noonan: The most recent details on NAMA's remaining portfolio are available in the Agency's quarterly accounts for Q2 of 2016.  This is published on the NAMA website via: . Page 44 of the report and accounts provides details on NAMA's outstanding loanbook.  I expect to receive NAMA's report and accounts for Q3 of 2016 in the coming week and expect to lay that report before the...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Nov 2009) See 2 other results from this answer

Brian Lenihan Jnr: The National Asset Management Agency (NAMA) is being set up to remove land and development loans and associated loans from the balance sheets of participating institutions. These loan assets will be purchased at prices significantly below book value following a detailed loan by loan assessment and application of the valuation methodology contained in the NAMA Bill. The NAMA interim...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: I will read it then. The question was about the level of NAMA staff that had effectively left NAMA and gone to the private sector. It is worrying that of the 108 staff members who resigned from the agency since its inception nearly 50%, or 51 former staff, have taken up employment in property companies, finance companies, and consultancy and law firms. From a contractual and data...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Jun 2012)

Michael Noonan: I am advised by NAMA that, as required under Section 35 (5) of the NAMA Act, the Code of Practice relating to the disposal of bank assets by NAMA has been published on its website. NAMA has also published a separate guidance note on its website – Disposal of Real Estate Asset Guidance Note. This is not a Code of Practice as prescribed by section 35 of the NAMA Act 2009, rather it is a...

Other Questions: NAMA Bonds (7 May 2015)

Ruth Coppinger: The entire matter of NAMA needs to be reviewed. Beginning in March 2010, NAMA purchased loans from five banks for par value or the total borrower debt owed on them in October 2009, which amounted to €74.4 billion. It paid for the loans with NAMA bonds carrying a face value of €31.8 billion. As the bonds were guaranteed by the then Minister for Finance, they are effectively...

Other Questions: NAMA Operations (5 Jul 2017)

Mick Wallace: According to the NAMA Act, the overall objective of NAMA was to bring stability to the banking system by removing impaired loans from bank balance sheets; it was never set up to make a profit. It would have to get back over €74 billion to make a profit. The Minister is saying the EU directive requires that certain companies, including NAMA, must be audited by a statutory auditor...

Written Answers — National Asset Management Agency: National Asset Management Agency (26 Oct 2011)

Michael Noonan: ...to asset transfers, in circumstances where it is obvious that the purpose of an asset transfer, whether to a spouse or otherwise, was a pre-emptive attempt to put assets beyond the reach of NAMA, NAMA has a number of statutory remedies available to it under Irish law. These include the provisions of the Conveyancing Act, the Land and Conveyancing Law Reform Act 2009 and Section 211 of the...

Written Answers — Department of Finance: NAMA Staff Data (19 Jul 2016)

Michael Noonan: I propose to take Questions Nos. 157 and 159 together. The information sought by the Deputy, regarding the cost of NAMA's retention scheme, is set out in aggregate detail in NAMA's Annual Report and Financial Statements for 2015 on page 103. This is available on the NAMA website, www.nama.ie.  NAMA does not make retention payments to staff whilst they remain in its employment. ...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Ms Ann Nolan: I thank the committee for inviting us here. I am here with Des Carville and Declan Reid, as the Chairman has already mentioned. I want to begin by discussing the balance between NAMA's independence and accountability and how this informs NAMA's relationship with the Department of Finance. NAMA was established under the National Asset Management Agency Act 2009 as a...

Written Answers — National Asset Management Agency: National Asset Management Agency (22 Feb 2012)

Michael Noonan: The information which the Deputy is seeking is available in the NAMA Annual Accounts for 2010 and the NAMA Quarterly Reports for the first three quarters of 2011. These reports, all of which I have laid before the Houses of the Oireachtas, can be found on the NAMA website at www.nama.ie. It is expected that the NAMA 2011 Annual Accounts will be publicly available by mid-year.

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NAMA