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 the first instance, NAMA received land and development loans. If the debtor had other associated loans, which could relate to hotels, offices and so forth, they also transferred to NAMA. To transfer to NAMA, the debtor originally had to have land and development loans. That was the hook that dragged them in. The other half of the IBRC loan book is being sold as part of the liquidation.

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