Results 24,981-25,000 of 34,778 for speaker:Seán Fleming
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: I did not see it. Perhaps Mr. McDonagh has it to hand.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: What page? I will look at it.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: I am looking at that but it does not give a breakdown by year.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: Mr. McDonagh might send us a breakdown of NAMA's portfolio based on geography. This was mentioned in general to Deputy Perry. Mr. McDonagh gave some key headlines a moment ago. Could the details be sent on to us? My next question is on a point that might have caught people's eyes. On page 118 of the accounts, NAMA refers to the payments to the Northern Ireland Advisory Committee. Mr....
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: He had the expert beside him but had to go get clarification.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: That was a figure of about €35,000. Was that a voluntary disclosure or did the Revenue Commissioners come in and require it?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: So it was a voluntary disclosure. I found the reference in the accounts unusual. NAMA is managing a lot of its portfolio itself but it has participating institutions managing some of the activity. Mr. McDonagh mentioned AIB and Capita. To be helpful, we see on page 13 that NAMA made 181 insolvency appointments and the other companies working as agents for NAMA appointed 275. What...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: Did Bank of Ireland manage its own?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: And the remnants of IBRC-----
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: In other words, Capita has taken over the management and AIB and Capita are the only people left. Of the €14 billion portfolio remaining, is NAMA managing practically-----
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: By the others.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: That is interesting. NAMA had a bigger volume of debtors to manage but the quantum of money was less.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: I have two final questions. We all know since 2010, although we are probably a bit rusty on it, the breakdown of the loans transferred to NAMA from the various institutions including Anglo Irish Bank, AIB, Bank of Ireland, etc. Of the €14 billion in place now, can Mr. McDonagh give us a breakdown of the banks those loans came from originally? How much of that is AIB? How much of it...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: Can we tease that out because there is a little lack of follow-through of information on behalf of the taxpayer that I will ask Mr. McDonagh to revisit, if I am hearing him correctly. He will understand when I make clear what I am coming at. When NAMA was being set up, approximately €70 billion of loans were transferred to it at whatever figure. There was approximately 50% of a...
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: Mr. McDonagh may not be in that space but from the outside, that is an important question. I would ask Mr. McDonagh to take it into account.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: NAMA is costing us a lot of money.
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: How many debtors are we talking about?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: We will forget about the properties because-----
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: The loans came from institutions, is that right?
- Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)
Seán Fleming: Some of the properties might have had loans from more than one institution. Somebody could have got money to develop a site. Somebody else could have got it to commence construction.