Results 4,761-4,780 of 20,054 for speaker:Brian Stanley
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Turning to the future of NAMA, it was due to close by 2020. An extension was then granted until 2025. Regarding the winding down, what is the value of NAMA's current assets?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: What were the organisation's operational costs in 2022?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: That was quite high, with assets of just €500 million.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Well, €40 million into €500 million-----
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: In hindsight, would it have been desirable and better to have been able to hold some of the big bundles that were sold and were controversial for another year or two or even to have broken them up into smaller lots at that time and sold them?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: No, I am just asking about this aspect.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Does Mr. McDonagh think better prices could have been achieved, though, if those lots had been broken up?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: The specific question I am asking is if it would have been better at the time if these assets were sold in smaller lots. Big bundles were sold off then.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: But NAMA had a limited number of buyers then because those lots were so big.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Turning to the remaining €500 million in assets and the loan value that is there, I hope we do not have the Donegal situation again. Is it anticipated that there will be significant losses on these? How does Mr. McDonagh think that NAMA will be able to achieve a fairly good return? He has acknowledged that the difficult stuff can be at the end.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: On the operational costs, we moved on a bit fast from that point. In terms of the €40 million in operational costs on assets of €500 million, would Mr. McDonagh acknowledge that this is high?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: There are also the legal costs. How much are they over a year?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: How much is Mr. McDonagh's current salary?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: It is still the same as then.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Mr. McDonagh outlined that in respect of social housing he sees potential for approximately 1,800 units in respect of the remaining assets.
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: Will the rest be sold on the open market or will they be sold to investors?
- Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)
Brian Stanley: We have gone through many of the main issues and we have got a lot of answers. I thank Mr. McDonagh and his team for coming in today and his backroom staff for preparing the information for today's meeting. I also acknowledge the assistance of the Comptroller and Auditor General and his staff and thank them for attending as well. There are a few bits of follow-up information required and...
- Public Accounts Committee: Business of Committee (28 Sep 2023)
Brian Stanley: The business before us this afternoon is minutes, accounts and financial statements, correspondence, our work programme and any other business. The first item is the minutes of the meeting of 21 September 2023, which have been circulated to members. Does any member wish to raise any issues? Are the minutes agreed? I take that as agreed. As usual, they will be published on the...
- Public Accounts Committee: Business of Committee (28 Sep 2023)
Brian Stanley: Okay, I thank Mr. McCarthy for that. Can we agree to note the listing of accounts and financial statements? Agreed. As usual, the listing of accounts and financial statements will be published as part of our minutes. We will move to correspondence. As previously agreed, items that were not flagged for discussion for this meeting will continue to be dealt with in accordance with the...
- Public Accounts Committee: Business of Committee (28 Sep 2023)
Brian Stanley: When was Mr. McCarthy's office finished with them?