Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Brendan McDonagh:

I mean, Senator, the Minister in his budget, I think it was budget 2011, sorry budget 2012, announced that, you know, NAMA would be publishing guidance so now people could get rent abatements. And we gave that, and we were upfront and we were explicit and transparent about it. If people follow that and they make a genuine request and gave us the information that allows us to assess it, then, you know, the evidence has been we've had 350 applications, 340 of them are going to be granted and have been granted, and only ten have been refused. And the ten that have been refused have been really to firms which are profitable across their whole operations but might have one particular store which is causing difficulty, and reality is that, you know, we can't give taxpayers' money away unnecessarily. So if more than 350 applications come in then they would be all looked at and assessed, but all you can deal with is the ones that came to us for-----