Oireachtas Joint and Select Committees
Friday, 20 December 2013
Public Accounts Committee
2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012
12:10 pm
Mr. Brendan McDonagh:
In terms of the IBRC liquidation, the special liquidator is charged under the relevant Act with valuing the loans. He determines the valuation and if he offers the loans to the market and they meet the reserve price or higher, they are sold to the market. If they do not reach the reserve price, NAMA is legally obliged to buy the loans at the reserve price set by the liquidator.
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