Results 7,001-7,020 of 26,042 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Water Tariffs: Commission for Energy Regulation (21 Oct 2014)
Kieran O'Donnell: That means that in practical terms the filing date is actually 30 November rather than 31 October.
- Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Water Tariffs: Commission for Energy Regulation (21 Oct 2014)
Kieran O'Donnell: As it stands, if people do not complete a return until 30 November, do they hold their allowances?
- Joint Oireachtas Committee on Environment, Culture and the Gaeltacht: Water Tariffs: Commission for Energy Regulation (21 Oct 2014)
Kieran O'Donnell: The public is not aware of that. Can I get a commitment from the CER to do the sensitivity analysis on the prospect of retaining the cap for a two-year period up to the end of 2016? Will the witnesses commit to doing this and to publishing it?
- 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?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: To give a flavour from that period, did NAMA make profits on the disposal of other loans? What are generally the criteria in terms of the 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: Mr. McDonagh referred to the Committee of Public Accounts. One of the recommendations made by the Comptroller and Auditor General at the time was that there should be criteria for return on investment, a benchmark for NAMA, which the agency disputed. The question was raised again in the list of questions. It has been lost in some of the commentary that when NAMA was originally established,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I welcome that. I have one or two other quick questions. Question No. 17 related to NAMA staff.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I will read it then. The question was about the level of NAMA staff that had effectively left NAMA and gone to the private sector. It is worrying that of the 108 staff members who resigned from the agency since its inception nearly 50%, or 51 former staff, have taken up employment in property companies, finance companies, and consultancy and law firms. From a contractual and data...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I am not questioning that. My point is-----
- 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 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.