Oireachtas Joint and Select Committees

Wednesday, 16 December 2015

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Operations and Functioning of NAMA: Discussion

2:30 pm

Mr. Brendan McDonagh:

They do not appear in our books but if a rent of €1 million comes in for an office building and the debtor has to provide some services to keep that office building going, which cost €100,000 a year, he can remit only €900,000 rent to us. We are interested in making sure that the €100,000 he spent on those services is appropriate and stands up. That is why we ask a financial monitor to audit that €100,000.