Results 1,941-1,960 of 15,555 for speaker:Eoghan Murphy

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: This comes back to what I was trying to get at earlier. To get the 15% figure by 2016, NAMA will be getting rid of most of the overseas assets.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: I understand the next 25%, but it is more that I am thinking beyond that to the 30% over the two year period. If we have achieved 50% of our bond repayments on NAMA through the bulk being overseas sales, and that at an increase above the value at which we purchased them, which is good, but then relying almost wholly on the Irish market over a two year period to realise 30% on NAMA bonds, and...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: In relation to that, NAMA's debtors and what has been achieved to date, has that been achieved solely through debtors who are working with NAMA?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: I think Mr. McDonagh said previously that only two thirds of debtors were working with the agency.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: If the bulk of the assets that NAMA has disposed of belonged to people working with the agency, then the ones left will be more difficult to deal with. It will be a harder task for the agency because these people are not willing to comply or work with NAMA.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: When we look to 2020, is Mr. McDonagh anticipating having loans or assets in NAMA but with the bonds all having been repaid?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Did Mr. McDonagh refer to €9 million in terms of the assets outside of the commuter belts?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Is Mr. McDonagh expecting an operating profit of just under €1 billion after 2020?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Is Mr. McDonagh balancing the €900 million against the €1.5 billion to the banks?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Mr. McDonagh expected better growth figures for the past three years but it did not happen. Is that why the revision was made?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: I am somewhat confused by the concept of long-term economic value. We purchased the loans on 30 November 2009 at market value.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Did we acquire loans that seemed to be worth €31 billion?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Over the course of a ten-year period, we have managed the assets to realise the market value as of 2009.

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Does anything above that qualify as profit?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Does this also take account of operating costs, fees to debtors, any investments made and money recouped?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Must NAMA make more than €31 billion in order to achieve a break-even target?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Is Mr. McDonagh estimating that at €32 billion?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: Is that the estimate for 2019?

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: In his opening statement, Mr. McDonagh said that NAMA was established to achieve the best financial return for the State from the assets entrusted to it. However, the legislation does not exactly say that. The legislation is open to interpretation as to what exactly NAMA is meant to pursue above and beyond the value of the assets as it acquired them in 2009. Looking back to Mr. Brian...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Eoghan Murphy: That is not the point I am making. I am not referring to any specific court case. I am referring to debtors who are working with the agency, doing their best to help NAMA realise the value of the loans when they were purchased in 2009. Some may do that and receive a salary, which is fair enough if they are the best people to manage the portfolio. They might also realise a profit if they...