Results 161-180 of 627 for nama speaker:Michael Noonan

Ceisteanna - Questions - Priority Questions: NAMA Loan Book (29 Sep 2015)

Michael Noonan: I thank the Leas-Cheann Comhairle. Regarding PIMCO's subsequent withdrawal from the sales process, I am advised that on 10 March 2014 PIMCO informed NAMA that PIMCO's compliance staff had discovered that PIMCO’s proposed fee arrangement with Brown Rudnick included a proposed payment of fees to Tughans and to a former external member of NAMA's Northern Ireland advisory committee,...

Written Answers — Department of Finance: NAMA Operations (17 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 70 and 133 together. I am advised by NAMA that, to date, it has received 338 eligible applications for rent abatement through its debtors and receivers.  Of these 293 applications have been approved, 35 are currently being assessed and 10 have been refused.  The aggregate annual value of approved rent abatements approved to date is...

Committee on Finance, Public Expenditure and Reform: Select Sub-Committee on Finance: Estimates for Public Services 2014
Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Office of the Appeal Commissioners (Revised) (15 Jan 2014)

Michael Noonan: The NAMA review is ongoing at present. It is being conducted internally in consultation with NAMA. It is a requirement under the Act and we will see what it comes up with. NAMA is subject to an awful lot of criticism and adverse briefing, principally driven by developers and builders who have a vested interest in putting out bad stories about NAMA. If one examines the situation in NAMA...

Written Answers — National Assets Management Agency: National Assets Management Agency (21 Mar 2012)

Michael Noonan: I am advised by NAMA that the scenario put forward by the Deputy i.e. restrictions on access to publicly funded projects through land administered by NAMA, has not been a significant issue for NAMA. I am further advised by NAMA that it has not carried out any specific study on restrictions. However, I am informed that NAMA works constructively with all public bodies in relation to any matter...

Written Answers — Department of Finance: NAMA Assets Sale (14 Jul 2015)

Michael Noonan: NAMA has not engaged in "fire sales" and the suggestion by the Deputy that it has done so is inaccurate.  NAMA's demonstrable strategy in each of its main markets has been to release assets for sale in a phased and orderly manner consistent with the level of demand and the absorption capacity in each market. In the period to the end of 2013, this meant concentrating sales in...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 52 and 69 together. I appreciate the questions and have considered these issues since the establishment of NAMA.  It is important to understand NAMA and how it is achieving its purposes. One of many important purpose of the NAMA Act is "to contribute to the social and economic development of the State."  The...

Written Answers — Department of Finance: NAMA Operations (10 Nov 2016)

Michael Noonan: In no way has the integrity of NAMA or the NAMA Board or the integrity of its decisions been brought into question, so I have no intention of directing NAMA to halt its activities. To do so would irreparably damage NAMA's positive contribution to our recovery and damage our reputation as a credible, open and transparent market. By extension, any such...

Written Answers — Department of Finance: NAMA Debtor Agreements (24 Jun 2015)

Michael Noonan: NAMA has a widely stated policy of openly marketing the sale of all assets by its debtors and insolvency practitioners wherever feasible. In certain circumstances there are impediments to this, primarily legal considerations. NAMA's Guidance Note for Disposal of Real Estate Assets is available on the NAMA website at . Section 4.1.1 of NAMA's Guidance Note for Disposal of Real Estate...

Written Answers — National Asset Management Agency: National Asset Management Agency (30 Jun 2011)

Michael Noonan: NAMA advises me that the most efficient way to deal with issues arising in connection with period buildings and protected structures controlled by NAMA debtors, is to consider circumstances on a case by case basis. Should it be brought to NAMA's attention that one of its debtors is failing to comply with his or her obligations as regards protected buildings or structures, the Agency's first...

Written Answers — Department of Finance: NAMA Property Rental (17 Nov 2015)

Michael Noonan: NAMA does not own or manage properties and is not, in any instance, a landlord. NAMA has acquired loans. Its role in relation to properties is, like a bank, that of a secured lender. Other than properties that have been enforced, all of which are managed by the appointed receiver/administrator, properties continue to be managed by their original owners. Therefore, it is NAMA debtors and...

Written Answers — Department of Finance: NAMA Debtor Agreements (26 Feb 2015)

Michael Noonan: NAMA is not aware of the scenario outlined by the Deputy.  I am advised by NAMA that it does not permit its funding or income from assets belonging to its debtors to be used for the discharge of unrelated third party expenses.   NAMA approves expenditure by debtors, including the retention of certain overhead costs from rental or other income generated by a debtor's assets,...

Written Answers — Department of Finance: NAMA Portfolio Issues (27 Mar 2013)

Michael Noonan: ...Question 13079/13 on 12th March, 2013, I advised that, to provide assurance on the financial information received from debtors and to enhance control over cash flows, particularly rental income, NAMA requires the appointment by certain significant debtors of independent monitors. The remit of these independent monitors is to ensure that financial information provided by debtors is...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Michael Noonan: ...sector on matters which are relevant to the discussions of the committee. I thank the committee members for inviting me to discuss the Comptroller and Auditor General's value for money report on NAMA's sale of its Northern Ireland portfolio. I wish the committee well as it undertakes its important work. I will begin by placing NAMA's activities in context. We have all come a long...

Written Answers — Department of Finance: NAMA Assets Sale (22 Mar 2016)

Michael Noonan: As the Deputy is aware, the stated purpose of the Northern Ireland Finance and Personnel Committee's Review was 'to undertake a fact-finding review in relation to the operations of NAMA in Northern Ireland, including the "Project Eagle" sale and related policy and regulatory issues that fall within the DFP [Department of Finance and Personnel] remit. The remit of the Northern...

Written Answers — Department of Finance: NAMA Property Leases (1 Apr 2015)

Michael Noonan: I propose to take Questions Nos. 49 to 51, inclusive, together. I am advised by NAMA that the 370 applications that it has received to date under its rent abatement initiative relate to 56 debtor connections, eight of which are fully enforced and a further 24 are partially enforced. As the Deputy is aware, NAMA has acquired loans and is not the owner/operator of properties.  Properties...

Written Answers — Department of Finance: NAMA Debtors (26 Mar 2015)

Michael Noonan: I am advised by NAMA that of the 178 remaining NAMA-managed debtor connections, which make up 89% of NAMA debt, 146 connections have personal guarantees in place.  The remaining NAMA-managed connections comprise mainly Special Purpose Vehicles (SPVs).   As regards the debtor connections managed on NAMA's behalf by AIB and Capita, I am advised that there is...

Written Answers — Consultancy Contracts: Consultancy Contracts (13 Jul 2011)

Michael Noonan: I propose to take Questions Nos. 74 and 75 together. I am informed by NAMA that the contractual details of all contracts between the agency and individual service providers are negotiated on a case-by-case basis, are commercially sensitive and are confidential. I am advised by NAMA that legal and consultancy fees incurred in 2009 in setting up NAMA were €1.63 million and relate to legal...

Written Answers — National Asset Management Agency: National Asset Management Agency (26 Oct 2011)

Michael Noonan: ...to asset transfers, in circumstances where it is obvious that the purpose of an asset transfer, whether to a spouse or otherwise, was a pre-emptive attempt to put assets beyond the reach of NAMA, NAMA has a number of statutory remedies available to it under Irish law. These include the provisions of the Conveyancing Act, the Land and Conveyancing Law Reform Act 2009 and Section 211 of the...

Written Answers — Department of Finance: NAMA Assets Sale (2 Jul 2015)

Michael Noonan: As the Deputy is aware, NAMA has acquired and manages loans and is not the owner/operator of properties. The Agency's role is that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed receivers/administrators, properties continue to be managed by their existing owners or their professional...

Written Answers — Department of Finance: NAMA Social Housing Provision (10 Dec 2015)

Michael Noonan: ...announced recently by Minister Alan Kelly and in the substantial increases in direct Exchequer funding for social housing over the lifetime of this Government.  I welcome the announcement by NAMA that, subject to commercial viability, 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 neighbouring...