Results 1-20 of 9,510 for nama

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

Michael Noonan: I have made four of the ten direction orders to NAMA under the NAMA Act.  I have also made four direction orders to NAMA under the IBRC Act 2013.I have set out the details of each direction below. A copy of each Direction Order was laid before the Houses of the Oireachtas and published in Iris Oifigiúil at the time. Directions made by me...

Seanad: Message from Dáil (12 Nov 2009)

Pat Moylan: ...inclusive, made by Seanad Éireann to the National Asset Management Agency Bill 2009. Dáil Éireann has agreed to amendment No. 11 with the following amendments: In line 2, subsection (1), after "NAMA" to insert "or a director or employee of a NAMA group entity". In line 8, paragraph (c), after "NAMA" to insert "or a NAMA group entity". In lines 12 and 13, subsection (2), to delete...

Committee of Inquiry into the Banking Crisis: Nexus Phase (1 Jul 2015)

Ms Ann Nolan: Okay ... well, when we liquidated we didn't know we could sell all the assets. So, if the assets sold or ... the assets would be transferred to NAMA ... What happened was, the flow ... the Central Bank had a floating charge on the assets; the floating charge was sold to NAMA in return for NAMA bonds, so then the Central Bank had NAMA bonds. So the Central Bank was okay from...

Written Answers — Department of Finance: National Treasury Management Agency Staff (5 Oct 2016)

Michael Noonan: NAMA staff are employees of the NTMA as Section 42 of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign staff to NAMA. I am advised by NAMA that, other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires...

Written Answers — Department of Finance: NAMA Portfolio (28 Mar 2017)

Michael Noonan: The Deputy will be aware that NAMA does not own property.  NAMA acquired loans and its role is, like a bank, that of a secured lender. NAMA holds security over properties that are owned by its debtors or, in the case of enforcement, which are managed on behalf of those debtors by duly appointed insolvency practitioners. As a result, where properties which secure NAMA loans are...

Written Answers — Department of Finance: National Asset Management Agency (13 Jan 2021)

Paschal Donohoe: As the Deputy will be aware, NAMA does not typically own or sell properties, rather NAMA owns loans for which the properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers where applicable. These parties also manage the sales process. As regards the property referenced by the Deputy, I am advised that the property...

Written Answers — Departmental Staff: Departmental Staff (7 Jun 2011)

Michael Noonan: The most recent notification issued to staff of my Department was Office Notice 20/2009, which concerned lobbying NAMA on behalf of another. A copy is included for the Deputy's information. It is expected that central guidelines on the handling of lobbying will be issued by my Department in the coming months. Further instructions issued to the staff within the Department will, of course,...

Written Answers — Department of Finance: NAMA Legal Fees (15 Jan 2014)

Michael Noonan: NAMA has instigated 117 sets of proceedings. Of that number, 60 are complete. NAMA was successful in all 60 of those cases. The remaining 57 of those cases are ongoing through the Courts. NAMA has had 31 actions taken against it. Of those, 16 are still active, and 15 are complete. Fourteen of those cases completed resulted in a favourable outcome for NAMA and NAMA was partially...

Written Answers — Department of Finance: Proposed Legislation (16 Jan 2014)

Michael Noonan: I currently have no plans to update the NAMA legislation. Under Sections 13 and 14 of the NAMA Act I have the power to issue guidelines and directions to NAMA. To date I have issued nine directions to NAMA which are available on the NAMA website at www.nama.ie.

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

Michael Noonan: I propose to take Questions Nos. 194 and 313 together. All NAMA staff are employees of the NTMA and under Section 42 of the NAMA Act 2009, the NTMA assigns staff to NAMA. Other than a small number of staff reassigned from other functions within the NTMA, NAMA staff are employed by the NTMA on the basis of specified purpose contracts - their employment lasts for as long as their particular...

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

Michael Noonan: I may remind the Deputy that the NAMA Advisory Group has been set up to advise me in the following areas: - The strategy of NAMA. - The appointment of directors to NAMA. - The remuneration of senior executives in NAMA. - Any further advice I may seek of them. The Advisory Group was established under a Direction Order issued by me under Section 14 of the NAMA Act. The group operates on an...

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

Brian Lenihan Jnr: The issue of oversight and NAMA accountability was debated extensively during the NAMA Bill and there are substantial provisions on accountability in the NAMA legislation. Section 59 of the NAMA Act 2009 makes provision for the Chairperson and CEO of NAMA to appear before a Committee of the Oireachtas, if requested to do so, which is examining matters relating to NAMA. The chief executive...

Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)

Mr. Seamus McCarthy: As members are aware, NAMA was established in December 2009 to deal with a crisis in Irish banking due to poor property-related lending. The core idea was for NAMA to acquire property-related loans from the commercial banks, to hold and manage the loans and related collateral and, ultimately, to dispose of those assets in a manner that protected the State’s...

Written Answers — Department of Finance: NAMA Social Housing Provision (23 Jun 2016)

Michael Noonan: It is important not to confuse Section 2, the purposes of the NAMA Act, with Section 10, the purposes of NAMA and that the purposes of NAMA were established in fulfilment of the purposes of the Act. It is precisely through the establishment of NAMA's commercial mandate that the purposes of the Act, including "to contribute to the social and economic development of...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012) See 1 other result from this answer

Gerry Adams: Question 150: To ask the Minister for Finance the funds made available to NAMA borrowers from assets which are in NAMA to pay for the legal fees incurred by the borrower in attempting to prevent NAMA appoint a receiver over their assets; the number of borrowers in NAMA who have commenced proceedings against NAMA but continue to receive a salary from NAMA in accordance with their agreed...

Written Answers — Department of Finance: NAMA Staff Data (12 Mar 2015)

Michael Noonan: To date no staff member assigned to NAMA has left due to redundancy. A communication to NAMA Officers in January 2015 presented an outline of a possible redundancy programme. The total number of staff assigned to NAMA was 363 at the start of March 2015. Numbers assigned to NAMA are projected to reduce to 292 by end December 2015 and to 125 by end December 2016 subject to the achievement...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

...loans in receivables, they were not allowed to fair-value them. That's the first point. Secondly, when we audited the 2010 accounts we would have had to audit the gain or loss on the disposal to NAMA and as part of that audit procedures, we would have looked at the amount of which NAMA paid the bank for the transfer. But, as I said, NAMA dictated that. The bank did not have any real...

Written Answers — Department of Finance: NAMA Debtors (25 Jan 2017)

Michael Noonan: I am interpreting the Deputy's question as requesting the number of NAMA debtors who have exited the agency organised by reference to the amount repaid at the time of exit from NAMA as a percentage of the total par debt owed to NAMA.  In this regard, I am interpreting your reference to "total original loan book value" in the details supplied to the question as the total par...

Ceisteanna - Questions - Priority Questions: NAMA Operations (10 Nov 2016)

Michael Noonan: As the Deputy is aware, Deputies and others inside and outside the House frequently contact NAMA and are entitled to do so under law. As a matter of fact, NAMA circulated the number of a dedicated helpline and a dedicated email address for Deputies through which they can obtain information from NAMA. It is the practice of many Deputies to get such information on behalf of their community or...

Written Answers — Department of Finance: NAMA Legal Cases (5 Feb 2019)

Paschal Donohoe: Section 172(3) of the NAMA Act 2009 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. In order to ensure compliance with Section 172(3), I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured...

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