Results 161-180 of 373 for nama speaker:Paschal Donohoe

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: ...Deputy Wallace's direct question clearly, however. It is my strong view, and a requirement under law, that the relevant oversight body for this matter is the Comptroller and Auditor General. NAMA is in communication with him and his office and this is the way I believe it should be dealt with. A correct consensus grew in the aftermath of the crisis that politicians should step out of...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: I reiterate that it is now accepted that politicians should not be involved in inquiries into organisations as vast and significant as NAMA nor should we be involved in their day-to-day operations because of the pressure we could come under. If the Deputy is willing to accept that, he should be willing to accept that the Office of the Comptroller and Auditor General is the right body to do...

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...

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

Paschal Donohoe: ...convictions or prosecutions but I can check to see what has occurred over the last number of years. As I have indicated to the Deputy and as she has recognised, the oversight relationship with NAMA, having regard to the performance of its commercial duties, is anchored in the work of the Comptroller and Auditor General. I have outlined to the Deputy the nature of the communication that...

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

Paschal Donohoe: Section 172(3) of the National Asset Management Agency Act 2009 is a legal provision preventing assets held as security for loans acquired by NAMA from being sold back to defaulting debtors or persons acting on behalf of defaulting debtors. To ensure compliance with this section, I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured assets...

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

Paschal Donohoe: It is expected that NAMA will substantially complete its work by the end of 2020-21. Over 2020 and 2021 it expects a surplus currently projected to be €3.5 billion to be available for return to the State. NAMA announced last year that it had redeemed all of its €30.2 billion in senior debt, which was guaranteed by the State. Since April 2018, it has commenced the redemption...

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

Paschal Donohoe: ...portfolio. I do not have any information that is more up to date than what the Deputy has just given me. The answer to the Deputy's third question regarding the intersection between the work of NAMA and the work of the Land Development Agency, LDA, is that there are personnel who have worked in NAMA who will now be working in the LDA. In particular, I believe the new chief executive of...

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

Paschal Donohoe: I will deal with each of the Deputy's points in turn. We expect the final major sale by NAMA to take place by the end of the year. The work it will do up to 2020 will have two elements. The first will involve the delivery of the Dublin docklands SDZ, in which it plays a considerable role, and the delivery of a residential programme there and at a number of other sites. The second piece of...

Written Answers — Department of Finance: NAMA Assets Sale (22 Nov 2018)

Paschal Donohoe: ...recorded a small number of instances (4 out of a total of 78) where Section 172 confirmations could not be located in respect of sales. I am advised that Section 172 confirmations are examined by NAMA when a sale occurs and that NAMA has a policy of obtaining written confirmation from purchasers of NAMA secured assets that, among other things, the purchaser is not a party precluded from...

Written Answers — Department of Finance: NAMA Expenditure (22 Nov 2018)

Paschal Donohoe: I am advised that, from Q1 2014 to Q3 2018, NAMA funded the construction of 8,013 new residential units in Ireland on residential development land under the control of its debtors and receivers. It is important to note that NAMA can only fund developments which are under the control of its debtors and receivers and which are commercially viable. The breakdown by local authority area of the...

Written Answers — Department of Finance: NAMA Loans Sale (22 Nov 2018)

Paschal Donohoe: ...my Department does not have access to the information requested.  The C&AG does report publicly on material findings emerging from his work. Chapter 6 of the C&AG's second progress report on NAMA, published in June 2018, examined the processes applied by NAMA in eleven loan sales, covering the period 2011 to 2016. The C&AG also published a special report on the Sale of...

Written Answers — Department of Finance: NAMA Portfolio (13 Nov 2018)

Paschal Donohoe: I am advised that Sections 99 and 202 of the NAMA Act prohibit NAMA from disclosing confidential debtor information, including information on the assets owned by its debtors. It is therefore not possible to provide information on the location of residential units owned by debtors. I am advised that NAMA’s acquired loan portfolio was initially secured by some 22,735 residential units in...

Written Answers — Department of Finance: NAMA Property Sales (13 Nov 2018)

Paschal Donohoe: I am advised that, since inception, a total of 19,224 residential units located in the Republic of Ireland have been sold by NAMA debtors and receivers. These residential units were owned by NAMA debtors and the sales proceeds were used to repay associated debt. The figures include both completed and partially completed units, as well as over 8,000 new houses or apartments delivered through...

Written Answers — Department of Finance: NAMA Property Sales (13 Nov 2018)

Paschal Donohoe: I am advised that it was not possible for NAMA to provide the information sought in the time available and therefore I will make arrangements to provide the outstanding information in line with Standing Orders.

Written Answers — Department of Finance: Social and Affordable Housing Data (13 Nov 2018)

Paschal Donohoe: I am advised that, following the review process undertaken by NAMA, as outlined in my response to PQ [46748/18], NAMA collated a list of potentially suitable properties which was shared with the Housing Agency. The Housing Agency, in turn, engaged with the relevant local authorities to determine if there was demand in the geographical areas in which potentially suitable houses were located....

Written Answers — Department of Finance: NAMA Social Housing Provision (13 Nov 2018)

Paschal Donohoe: I am advised that NAMA continuously reviews the assets of all NAMA debtors and appointed receivers to establish if vacant residential properties securing their loans could potentially be made available for social housing. This includes identifying vacant residential properties, as well as exploring opportunities to undertake remediation and completion works at a number of unfinished...

Written Answers — Department of Finance: NAMA Social Housing Provision (13 Nov 2018)

Paschal Donohoe: I am advised that NAMA has no role in the process of confirming demand for, and assessing the suitability of, properties for social housing. This is a matter between the Housing Agency and local authorities. I am advised that an important consideration for local authorities is the requirement to provide for an appropriate mix of housing tenures and to avoid undue housing segregation within...

Written Answers — Department of Finance: NAMA Property Construction (13 Nov 2018)

Paschal Donohoe: I am advised that, since 2014, NAMA has funded the construction of 8,013 new residential units in Ireland on residential development land under the control of its debtors and receivers. It is important to note that NAMA can only fund developments which are under the control of its debtors and receivers and which are commercially viable. Under Sections 99 and 202 of the NAMA Act, NAMA is...

Written Answers — Department of Finance: Budget 2019 (6 Nov 2018)

Paschal Donohoe: ...position, including the main transactions with no general government impact. Major drivers of the change in equity and loan transactions include central bank surplus income and the receipts from NAMA, the latter of which are expected in 2020 and 2021. The relevant part of the table is reproduced below for the Deputy’s convenience. 2018 2019 2020 2021 2022 2023 Revenue...

Written Answers — Department of Finance: Commissions of Investigation Data (6 Nov 2018)

Paschal Donohoe: ...State Inquiries during 2018. However, my Department has been asked to provide information to the Commission of Investigation relating to IBRC and to the Commission of Investigation relating to NAMA. Some expenditure has arisen in responding to those requests for information.