Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Photo of Patrick O'DonovanPatrick O'Donovan (Limerick, Fine Gael) | Oireachtas source

I welcome the witnesses. In his statement earlier and previously in July, Mr. McDonagh referred to NAMA's difficulties with the retention of staff. It was one of the issues he was concerned about for the future. He said that from the outset NAMA recruited staff with a diverse range of skills in the assessment of assets, including property development, asset management, architecture, engineering, surveying, planning and construction. In the last 24 hours it has come to everybody's attention that there are severe problems associated with the development at Longboat Quay in Dublin. What the unsuspecting home owners are left with is unsatisfactory. How can NAMA reconcile a situation where these people are living in a fire trap, given all of the skill sets that are available within the agency? These people now have a situation foisted upon them where they are living in a fire trap and they may very well be liable for remedying their properties, which were built by somebody who was one of NAMA's biggest debtors.

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