Oireachtas Joint and Select Committees
Wednesday, 22 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Okay. And in relation to NAMA, you'll be aware, or you may be aware, that NAMA, and this is from ... the public accounts committee received correspondence back in 2011 from Brendan McDonagh talking about the incentivisation mechanisms, and he talked at that point in 2011 that legally binding agreements had been entered into with nine debtors, under which the proposed incentives are in place. And he goes on to say, "Incentivisation mechanisms may sometimes be included; for example, profit above a target NAMA repayment level could be shared 90% to NAMA and 10% to the debtor."
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