Oireachtas Joint and Select Committees

Thursday, 18 December 2014

Public Accounts Committee

National Asset Management Agency Financial Statements 2013

1:20 pm

Photo of John McGuinnessJohn McGuinness (Carlow-Kilkenny, Fianna Fail) | Oireachtas source

I would love to believe the mediation process is as was described by NAMA earlier. It might be in many cases. However, in some of the cases we have heard, there are serious doubts about it being a fair and balanced process. It does cost the citizen an enormous amount of money to pursue any action. There are not many who could have gone to battle with the agency and pay €2 million for a court case. That is relative all the way down the line.

The agency’s relationship manager is present and does a fine job. However, the process described earlier is not the one Deputy McDonald and I am looking for. We are looking for more engagement from senior levels in NAMA with specific cases. There are cases that NAMA does not get right all the time. Mr. Brendan McDonagh said he has a job to protect the organisation. I respect that too. Sometimes, protecting the organisation means listening to the odd voice that says there is something wrong with the agency’s system or, as I heard recently about some of the agents that act on NAMA’s behalf, that they approach the client in an aggressive way. I would like to feel that in protecting NAMA Mr. Brendan McDonagh would see these complaints as way of understanding the plight of the citizen - sometimes a family - not a big developer with much property, money or know-how that the agency usually deals with. It would be good to listen not just to those who say Mr. Brendan McDonagh is a great fellow but to those who might say he is not so great and has brought much sadness into their lives. That is a point on which he will have to ponder. That is what the members are talking about. It is respecting what Mr. Brendan McDonagh does but also the rights of the citizen and what was said in the Dellway case. One will find any organisation that has a complaints department and stands over the thorough examination of every single complaint is successful and understood. I am not sure NAMA’s structure is correct in that regard. Will Mr. Brendan McDonagh look at it?

It was said earlier to Deputy Perry that if it is a reasonable proposal, NAMA will do a deal with a client as everyone has to move on. That is a fact. The meditation process that I learned about yesterday does not facilitate that very well. Court is not an option for some people. It saddens me to be part of a Parliament that created legislation that has brought about the type of grief that I had explained to me yesterday. How as parliamentarians and legislators can we correct that? Maybe what people are saying is that they need an action from all political parties that will review legislation to put the citizen first and understand humanity and compassion. It is Christmas. I reiterate the appeal I made privately to Mr. Brendan McDonagh earlier. It is nothing personal to those present but I find it deeply upsetting.

I have several other questions which I cannot put now as we have gone through much. Will members agree to leave the financial statements of NAMA for 2013 open?

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