Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Mr. Brendan McDonagh:

Yes. The value of assets was much lower because many debtors in their portfolios effectively had borrowed money to invest in property but they were not property developers as such, and many of them resulted in receiverships. There is a high number of receiverships but the value of the assets is quite low.

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