Oireachtas Joint and Select Committees

Wednesday, 18 September 2024

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance

1:30 pm

Mr. Des Carville:

No, I do not think that is a realistic proposition because the reality is that was an incredibly frothy peak-of-the-cycle valuation that nobody could recover, frankly. All NAMA could do was basically take the loans and value them at that point in time. The Deputy will remember that a lengthy exercise was gone through by each of the institutions in terms of valuing the loans and NAMA, I could use the expression, overpaid for the loans to the tune of €5.6 billion.

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