Seán Fleming (Laois, Fianna Fail) | Oireachtas source

I ask NAMA to send on information on the valuations. The portfolio was eventually sold for £1.32 billion and we have already accepted that 50% of the underlying assets were outside Northern Ireland. The final amount related to the assets outside Northern Ireland is a minimum of £600 million. NAMA has stated that what was left in Northern Ireland was, effectively, a rump comprising residential land which was dispersed. Obviously, the land in Northern Ireland was less valuable in the context of the overall figure of £1.32 billion. This committee has suggested a valuation figure of approximately £400 million. The witnesses probably cannot put an exact figure on it, but I ask them for their best estimate of the value of the assets NAMA controlled in Northern Ireland. Most of the assets were not located in Northern Ireland.

NAMA only really controlled maybe £500 million worth of assets which is not as dominant in Northern Ireland as it has been giving us to understand all along. It was a relatively small holding. Can NAMA send us some information on its estimate?