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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