Oireachtas Joint and Select Committees

Wednesday, 22 October 2014

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functions: National Asset Management Agency

3:40 pm

Mr. Brendan McDonagh:

Under section 172 of the Act, a provision introduced here and which, I might add, did not apply in the IBRC liquidation, we are legally prohibited from selling assets to a defaulting debtor unless he can pay off the full debt. I am not aware of any debtor who has not paid off his par debt going out to buy assets.