Oireachtas Joint and Select Committees
Wednesday, 22 October 2014
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Operations and Functions: National Asset Management Agency
3:40 pm
Mr. Brendan McDonagh:
Under section 172 of the Act, a provision introduced here and which, I might add, did not apply in the IBRC liquidation, we are legally prohibited from selling assets to a defaulting debtor unless he can pay off the full debt. I am not aware of any debtor who has not paid off his par debt going out to buy assets.
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