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Court Funds Administration Bill 2017: First Stage (13 Jul 2017)

John McGuinness: I move: "That the Bill be taken in Private Members' time."

Court Funds Administration Bill 2017: First Stage (13 Jul 2017)

John McGuinness: I move:That leave be granted to introduce a Bill entitled an Act to allow for the operation of the Fund of Wards of Court by the Courts Service to be subject to audit and scrutiny by the Office of the Comptroller and Auditor General. The legislation providing for the governance of funds managed by wards of court dates back to 1870 or thereabouts. Difficulties with these funds were...

Summer Economic Statement 2017: Statements (13 Jul 2017)

John McGuinness: I welcome the opportunity to speak on the summer economic statement. While it is great that we have been given time to discuss the finer points of the fiscal space, it is important to remember that many people do not listen to what we are saying because they do not understand what the Government is doing. The Minister spoke about putting €500 million into a rainy day fund each year....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach (13 Jul 2017)

John McGuinness: I propose to go into private session to deal with some matters. Is that agreed? Agreed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Scrutiny of EU Legislative Proposals (13 Jul 2017)

John McGuinness: Before we proceed to our main item, I wish to record the following decisions taken by the joint committee on EU proposals. The committee agreed that the EU proposal listed in Schedule B - COM (2017) 318 - did not warrant further scrutiny. It further agreed that the EU proposals listed in Schedule A - COM (2017) 297 and COM (2017) 329 - did not warrant further scrutiny. Details of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Item No. 9 is an overview of the operations and functioning of the National Asset Management Agency, NAMA, and its annual report for 2016. I welcome Mr. Frank Daly and Mr. Brendan McDonagh with their officials. By virtue of section 17(2)(l) of the Defamation Act 2009 witnesses are protected by absolute privilege in respect of their evidence to the joint committee. If, however, they are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Waterford were training for a long time for that win.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: I want to return to the opening statement and ask about the offer of public housing. Some 7,000 were offered and 2,768 have been taken up. What happens to the balance of those? Are they sold on to private developers or are they still vacant?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: It is the case that most of the properties to which the figure of 7,000 relates have now been rented?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: But they are rented or sold. They are not vacant.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: How many are vacant?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: That is 72 out of all of the units NAMA has left.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: So the owners have been successful in letting or selling those houses, yet the local authority refused them.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Did they give NAMA reasons as to why they refused them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: So even though they refused and offered all those explanations, the owners of the properties were still able to find buyers or tenants.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: The witnesses mentioned that NAMA is to wind up in 2020 or thereabouts. How many legal challenges is the agency currently involved in?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: What has been the cost of those 100 cases to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: Will those cases be resolved before NAMA concludes its business?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: What is NAMA's success rate to date?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Overview of Operations and Functioning of NAMA: Discussion (13 Jul 2017)

John McGuinness: So there were three cases lost.

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