Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

4:30 pm

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

I accept Mr. McDonagh might not want to go too far on this and I noted the little nudge there. Is there commercial sensitivity about this? It is now history. NAMA has a legal remit to look after its organisation and the IBRC has a remit to look after its organisation and sometimes the unhealthy possible competition between the two might result in one getting the better of the other in terms of recovering its money. I put the following straight question to Mr. McDonagh - has Mr. McDonagh a view on whether NAMA's single largest transaction to date that he mentioned could in some way have disadvantaged another State organisation, IBRC, owned by the taxpayer in terms of it collecting its debt? Could NAMA's action have had excellent good news from its perspective but have had some collateral potential damage in terms of the collectability of other debts owed to another organ of the State? What is Mr. McDonagh's view on that?

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