Oireachtas Joint and Select Committees

Thursday, 30 September 2021

Public Accounts Committee

NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General

9:30 am

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats) | Oireachtas source

I will address my comments to Mr. McDonagh. I will try to keep them short and would appreciate succinct replies. I want to make a quick comment before I do that. I have an issue with the word "profit". I accept that NAMA paid €31.8 billion for what it is dealing with but the par value for these liabilities was €74.4 billion. I think "surplus" is the correct word rather than "profit". On the costs of administration, does Mr. McDonagh have a complete list of the legal suppliers? In the early stages, there would have been people valuing assets, while at the later stage, it would be predominantly legal fees. There does not appear to be a complete list of the amounts paid out in legal fees. Under the public service code of governance, NAMA is only required to provide settlement costs after 2017. Is there any reason NAMA would not supply that figure retrospectively, going right back, since it is not available from 2016 onwards?

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