Results 19,121-19,140 of 26,148 for speaker:Kieran O'Donnell
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: But Mr. McCarthy gave them an unqualified report?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I welcome the fact that NAMA is taking on board the Comptroller and Auditor General’s recommendation on rate of return. What type of rate does it envisage taking on board from 2015?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Will normal commercial criteria apply?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Mr. McDonagh said that at the end of the second quarter NAMA sold debtor’s loans with a normal part debt value in excess of €12.5 billion and it recognised a loss of €227 million on the disposal of the loans. Is that €227 million on the value NAMA paid for the loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: It is not off the original book value. Would it be fair to say that NAMA’s model is that profits come from interest on loans which in essence cover losses it makes on the disposal of loans and assets? Is that a reasonable summary?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Losses of €140 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: To date, globally, has NAMA made a profit or loss on disposal of loans and does it have a break-down of profit and loss on disposal of assets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Is that on disposal of loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: What about disposal of assets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: If NAMA was going to make a loss of €140 million on disposal of a portfolio of assets in the North in the second quarter, why, when the market is rising, would it not have held off on selling those loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: How much did NAMA purchase that loan for and what did it sell for to arrive at the loss of €140 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: In respect of staff on garden leave who have to refrain from taking up a post in that area for six months, in the current market can NAMA retain staff and is six months too short a period? The public perception is that it is too short.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: With due respect, working for NAMA is not like working for any other property business. It is probably still one of the biggest in the world. The access it gets to databases and information is unique. Mr. McDonagh spoke about a relatively unique set of circumstances for investment return and I take that on board but think we should have a benchmark. Equally, when staff work for NAMA they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: A question was put on NAMA's dealings with developers within NAMA. How many developers have exited NAMA at this stage? Have developers purchased assets, including either their own loans or unrelated loans, from within NAMA? A sum of €10 million has been paid out by NAMA in salaries to developers, three of whom are on €200,000, 13 of whom are on between €150,000 and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: There are no discounts.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Is that the par value NAMA took over and which the developer had with the financial institution originally?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: How many developers have exited NAMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Out of how many?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I thank Mr. Daly, Mr. McDonagh and their colleagues. I looked back at the accounts for the first six months, and more particularly for the second quarter. NAMA made a profit of €102 million for the six-month period. However, a net loss was made on the disposal of loans of approximately €140 million. What type of write down is NAMA taking on the disposal of loans? To follow...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Was it purely that portfolio?