Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Mr. Brendan McDonagh:

This is taxpayers' money at the end of the day. We have 18 of the 300 apartments in that block. The receiver, from our discussions with the receiver, is working with Dublin City Council and Dublin Docklands Development Authority to find a solution. There would be a meaningful contribution made by the receiver. Let us be honest about it, the receiver does not have the money. It is us giving the money to the receiver towards meeting the cost of remediation. It must be remediated. It is a terrible situation for those people.