Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

4:20 pm

Photo of Seán FlemingSeán Fleming (Laois-Offaly, Fianna Fail) | Oireachtas source

Okay. I accept that NAMA has a particular legal remit. As I have stated previously, however, it is trying to work out these assets as best it can for the State and to recover what it paid for them. The IBRC is doing the same thing. I am of the view that there would be merit in merging the two organisations. It is possible that there could be an amount of unhealthy competition between NAMA and the IBRC which could, ultimately, be detrimental to the taxpayer. When NAMA is pursuing debtors in the context of trying to obtain agreements, does it consider the views of the IBRC or any other financial institution which may also be owed money by those to whom I refer? Is NAMA intent on obtaining the best deal possible for the taxpayer rather than trying to obtain such a deal for itself? Does consideration of matters of this nature come within NAMA's remit?

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