Results 181-200 of 8,010 for nama

Written Answers — National Asset Management Agency: National Asset Management Agency (19 Apr 2012)

Michael Noonan: The advisory group on NAMA was set up to advise me on specific issues related to NAMA. The group's advice to me primarily relates to the strategy of NAMA as proposed by the board of NAMA; the appointment of directors to NAMA; the remuneration of the senior executives of NAMA and any further advice that I may seek on any matter relating to NAMA. I have met with the group on one occasion...

Written Answers — Department of Finance: NAMA Operations (22 Feb 2018)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020. The Agency announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State. However, notwithstanding the successful achievement of this primary and important objective, three years ahead of schedule, there is still a significant body...

Written Answers — Department of Environment, Community and Local Government: NAMA Social Housing Provision (10 Dec 2015)

Alan Kelly: The National Asset Management Agency (NAMA) funding and financial decisions are a matter for NAMA in accordance with its statutory independent commercial mandate. However, I welcome the announcement by NAMA that, within the context of that mandate, it expects to be in a position to fund the construction of up to 20,000 new residential units, predominantly located in Dublin and the...

Written Answers — Department of Environment, Community and Local Government: NAMA Social Housing Provision (10 Dec 2015)

Alan Kelly: The National Asset Management Agency (NAMA) funding and financial decisions are a matter for NAMA in accordance with its statutory independent commercial mandate. However, I welcome the announcement by NAMA that, within the context of that mandate, it expects to be in a position to fund the construction of up to 20,000 new residential units, predominantly located in Dublin and the...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

In July 2011, the NAMA board approved a repayment target for the Avestus loans, but there were errors and inconsistencies in how NAMA arrived at the target. Correcting for these errors and inconsistencies, the repayment target would have been significantly higher. NAMA told Avestus what the approved target amount was. It then went on to agree adjustments to the target with Avestus as the...

Written Answers — Department of Finance: NAMA Property Sales (5 Nov 2013) See 1 other result from this answer

Michael Noonan: I do not intend to establish such a mechanism. NAMA does not sell property. Rather, property securing NAMA’s loans are sold by debtors and receivers. NAMA is subject to confidentiality obligations under sections 99 and 202 of the NAMA Act. It also has a commercial and statutory independent mandate and strategies applied in accordance with this mandate, including those relating to...

Written Answers — Department of Finance: NAMA Accounts (13 Jan 2016)

Michael Noonan: It is difficult to indicate definitively what the surplus position will be when NAMA completes its work. As the Deputy may be aware, the NAMA Chairman and Chief Executive appeared before the Joint Oireachtas Committee on Finance, Public Expenditure and Reform on 16 December 2015. At that appearance, the NAMA Chairman provided an updated estimate to the Committee when he...

Written Answers — Department of Finance: IBRC Mortgage Loan Book (10 Apr 2014)

Michael Noonan: I propose to take Questions Nos. 38 and 39 together. No final decision has been made as to the number of IBRC residential loans that NAMA may acquire from the Special Liquidators (SLs).  However as previously advised, NAMA has made appropriate preparations, including the selection of Pepper Asset Servicing (Pepper) through a competitive tendering process as its preferred bidder to...

Written Answers — Department of Finance: NAMA Expenditure (16 Jan 2014)

Michael Noonan: NAMA’s establishment costs are set out in the Comptroller and Auditor General’s special report into NAMA’s ‘Acquisition of Bank Assets’, which was published in October 2010 and is available on the NAMA website, www.nama.ie . As per this Report, the costs incurred by the NTMA in the establishment of NAMA totalled €2.3 million.

Written Answers — Department of Finance: NAMA Operations (13 Jul 2017)

Paschal Donohoe: I assume that the Deputy is referring to information originally provided in reply to Parliamentary Question 220 of 21 March 2017.  In that reply, information was provided on exceptions approved by NAMA, over the period 2014-2016, to its policy of open marketing of loans by NAMA and of assets by its debtors and receivers.  I assume that the Deputy is now seeking...

NAMA Properties (8 Feb 2012) See 1 other result from this debate

Brian Hayes: NAMA's remit is to maximise disposal, in terms of value, of assets for the taxpayer. NAMA's task is in the first instance to appoint debtors-receivers, whose task it is to maintain these estates. Where this is not being done in a satisfactory manner, NAMA has the power under section 141 of the NAMA Act to apply to the District Court for an entry and maintenance order. NAMA's task should in...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

David Cullinane: Paragraph 4.5 states that NAMA also requested certain assurances from Cerberus "that no fee, commission or other remuneration or payment was payable to any current or former Board member of NAMA, any current or former member of the Executive of NAMA, or any current or former member of an advisory committee of NAMA". Was that the first time Mr. Neporent was contacted by NAMA about any...

Written Answers — Construction Industry: Construction Industry (4 Oct 2011)

Michael Noonan: NAMA has a commercial remit to manage its portfolio of acquired loans and the property securing them in order to generate the best achievable financial return for the State. Following the transfer of a debtor's loans to NAMA, the debtor is requested to complete a realistic and concise business plan. The viability of the business plan of each major borrower is then assessed by NAMA. Where...

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Feb 2012)

Michael Noonan: I am advised by NAMA that it does not pay salaries to debtors or their employees as NAMA is not their employer. NAMA inform me that it is the agency's practice to allow debtor companies to retain overhead costs from rental or other income that are produced by their assets where this is necessary for the company's operations. In a minority of cases, where assets are under development and not...

Written Answers — Department of Finance: NAMA Operations (7 Sep 2018)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020. The Agency announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and since April 2018 it has commenced the redemption of its €1.6bn in subordinated debt. However, notwithstanding the successful achievement of...

Written Answers — Department of Finance: NAMA Social Housing Provision (25 Oct 2018)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020. The Agency announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and since April 2018 it has commenced the redemption of its €1.6bn in subordinated debt. However, notwithstanding the successful achievement of...

Written Answers — Department of Finance: National Asset Management Agency (21 Apr 2021)

Paschal Donohoe: As the Deputy may be aware, National Asset Residential Property Services DAC (NARPS) is a NAMA subsidiary which operates by purchasing suitable residential units directly from NAMA debtors and receivers and leasing them on to Local Authorities or Approved Housing bodies for social housing use. As regards the future plans for NARPS, the Deputy will note the recommendation regarding NARPS...

Written Answers — Department of Finance: NAMA Portfolio (12 Jul 2016)

Michael Noonan: I propose to take Questions Nos. 183 to 185, inclusive, together. NAMA is bound by both statutory and contractual obligations of confidentiality. Neither NAMA nor I can comment on individual cases. Specifically, NAMA is, as the Deputy may be aware, subject to similar requirements as banks and other lenders that do not allow them to disclose information relating to individual debtors...

Written Answers — Department of Finance: NAMA Operations (26 Sep 2019)

Paschal Donohoe: As part of its Annual Report for 2018, NAMA revised its projected surplus to be returned to the State upwards to €4 billion. The realisation of this surplus depends on the success of NAMA’s ongoing deleveraging and completion of its Dublin Docklands SDZ and residential funding programmes. Surplus funds may only be returned to the Central Fund once NAMA's debt has been...

Written Answers — Department of Finance: NAMA Investigations (17 Apr 2019)

Paschal Donohoe: On 13 June 2017 the Government agreed the order establishing the NAMA Commission of Investigation and selected Justice John Cooke to lead the Commission in investigating the NAMA’s disposal of its Northern Ireland loan portfolio, referred to as “Project Eagle”. The Commission of Investigation is under the remit of the Department of Taoiseach and the former Minister for...

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