Results 32,121-32,140 of 34,942 for speaker:Seán Fleming

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: That is interesting. Will Mr. McDonagh briefly outline NAMA's dealings with local authorities? NAMA has sites in many locations throughout the country which can be used by local authorities for community and social purposes. Is there much happening in that regard? Does NAMA have agreements in place to allow local authorities to use such properties? How is a decision made in respect of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: On NAMA's annual statement for 2013, which appeared on its website this afternoon, and following on from what Deputy Timmins said, will Mr. McDonagh outline the fee structure that is in place with AIB, Bank of Ireland and the IBRC? According to the document to which I refer, the total amount in this regard for next year will be €64 million. Reference is also made to a fee up to a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: That would be an amount of the order of that to which we referred earlier, namely, one tenth of €70 billion. That cannot all be managed by the staff in the organisations to which I refer. This is the only instance in which NAMA is relying on the original par value. In every other instance, it proceeds on the basis of what it paid. Is it overcompensating in this case and is that a...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: Has NAMA audited the position in this regard?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: Is it satisfied that it is not being overcharged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: That is good. How many of NAMA's major debtors are operating outside the State?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: No, people who owe NAMA money.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: Yes. Are most of the people who owe NAMA money still-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: To start with.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: Okay. I accept that NAMA has a particular legal remit. As I have stated previously, however, it is trying to work out these assets as best it can for the State and to recover what it paid for them. The IBRC is doing the same thing. I am of the view that there would be merit in merging the two organisations. It is possible that there could be an amount of unhealthy competition between...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: That is one of the reasons-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: I welcome the delegates to the meeting. I wish to raise a number of topics. NAMA completed two business plans earlier this year. How many plans are there? Mr. McDonagh said in his opening statement that NAMA had referred two cases to the fraud squad as the debtors had not adequately disclosed information to NAMA. Are these business plans completed?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: I wish to recap. I refer to the par value of the loans versus what NAMA paid for them. I ask the delegates to describe the percentage write-down. What is the par value?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: I wish to refer to a few items in NAMA's quarterly accounts - the section 55 NAMA accounts presented to the Minister. Both Mr. Daly and Mr. McDonagh signed the statement on 21 September. The quarterly report on the accounts for the second quarter is for the period up to 30 June 2012. On that date the amount due to NAMA on debtor loans was €72.4 billion. The NAMA book value of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: Yes, on these specific points.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: We will not talk about the matter of interest today.

Public Accounts Committee: Department of Education and Skills - Review of Allowances (24 Oct 2012)

Seán Fleming: I have a final point emerging from what Mr. Burke said. He mentioned an extra 33 hours per annum that the Department had negotiated with teachers under the Croke Park agreement to do work outside school hours. Will those 33 hours be lost when the Croke Park deal ends in 15 months time?

Public Accounts Committee: Department of Education and Skills - Review of Allowances (24 Oct 2012)

Seán Fleming: The Croke Park deal will expire. I am being upfront on this. If the Department has a provision negotiated under the Croke Park agreement, it is for a maximum period of four years as that is when the agreement will expire. How does Mr. Burke reasonably expect this provision would continue after the agreement expires? How could the Department even contemplate that it would continue after...

Public Accounts Committee: Department of Education and Skills - Review of Allowances (24 Oct 2012)

Seán Fleming: What about in the teachers' agreement? Has the Department been made aware of this issue?

Public Accounts Committee: Department of Education and Skills - Review of Allowances (24 Oct 2012)

Seán Fleming: Mr. Burke can understand my asking about this.