Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

4:40 pm

Photo of Arthur SpringArthur Spring (Kerry North-West Limerick, Labour) | Oireachtas source

On personal guarantees, the people who own NAMA are the citizens of Ireland and they want to see fairness being administered as equally as possible. Regarding personal guarantees, Mr. McDonagh has just alluded to the fact that some rental income was sent to places it should not have been sent to or rather than paying off the debt of the burden that is placed on citizens, personal guarantees existed predominantly within IBRC loans that had been transferred to NAMA. To what extent will NAMA pursue those people? Many of the people who sought bankruptcy off these islands had assets, whether they be gifted to family members, beyond the reach of NAMA to family members. To what extent will NAMA pursue people for personal guarantees? I am not asking for a witch-hunt but an element of fairness to ensure people are not up and running again two or three years later compared to the reality of negative equity and the generation that is carrying mortgages. What timeframe has NAMA put on personal guarantees? I know it is doing that extensively but I want a timeframe on that and for it to be public knowledge that these people are not being let off.

Comments

No comments

Log in or join to post a public comment.