Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

5:30 pm

Mr. Brendan McDonagh:

First, if the debtor is involved, we try to get the debtor to secure the site and we will provide funding. If the debtor is not co-operating for whatever reason - that sometimes can be the most difficult issue and we consider there is an issue, in respect of which we also talk to the local authority - we have to go to the District Court to get an order under section 141 of the NAMA Act which effectively allows us power of entry to secure the site. Sometimes when people say it is a NAMA property, it is not always the case and if it not, we try to tell people that it is not our property. However, if it is - Deputy Sean Fleming made reference to this issue - we go to the District Court to get a section 141 order to say we can have legal entry, that we are not trespassing and that we need to go in and secure the site. If there is a problem, we have no interest in it worsening. We believe in trying to solve it and if somebody is interested in a particular site, whether it be a local authority or IDA Ireland, we are more than willing to talk.

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