Oireachtas Joint and Select Committees

Thursday, 28 September 2023

Public Accounts Committee

NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General

9:30 am

Mr. Alan Stewart:

He is grossly oversimplifying what occurred. It was not because of intimidation. There was more going on. There were 18 incomplete houses. There were issues with the site, which we spoke about earlier; no management companies were in place; there were threats of litigation, which would deter any purchaser; and it was not possible to market the properties. For all of those reasons as well as alleged intimidation, we ended up where we ended up, so please do not oversimplify it.

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