Results 12,221-12,240 of 20,094 for speaker:Brian Stanley
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: I am not looking at it in simple terms.
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: But the markets rose throughout those years, and substantially.
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Could I put it to you-----
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Okay, that has been explained clearly. What Mr. McDonagh is telling me is the Troika basically told the Government, which in turn told NAMA, to get on with the sales and the agency lost €4 billion in the first three years. It is generally accepted, if you look at the trajectory for property prices and value over, say, the past ten years, that there has been a fairly rapid rise back...
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Am I correct in saying that up to a couple of years ago, many of them would not have paid the 100% loan back?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: If most of them paid back with interest, why are we finishing up with sum of €37 billion or €38 billion?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Let me finish the point. Why is the best-case scenario a yield of €37 billion or €38 billion on loans that cost €74.4 billion? The taxpayer had to bridge the €39 billion in between. Why are we achieving less than half the amount, if they are paying back over 100% of what-----
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Given the hit that the taxpayer took, the conclusion must be that at best NAMA is achieving just under 50% of the par value of the loans. The net result is the taxpayer, the public, still needs to bridge that gap and pay that back. Our children and our children's children will pay it back. That is the point I am making. I take on board what Mr. McDonagh said about the amateurs. The banks...
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: They have been sold to a British firm, have they?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Have the 69 units in Malahide been sold to a British consortium for €433,000 each?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: How many vacant homes does NAMA have at the moment?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: How many vacant housing units, finished or partially finished, does NAMA have on hand at the moment?
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: It was revealed this morning that 1,400 NAMA units are in Housing for All. Obviously, NAMA has been dealt the hand it was given on this one. The fact that they are already in the social housing stock is disappointing to say the least. Some Deputies have indicated they wish to come back in. Deputy Catherine Murphy has three minutes.
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: I thank Mr. McDonagh. We will return presently to other Deputies who might have follow-up questions. To return to the overall sums, the par value is €74.4 billion, having been bought by NAMA for €31.8 billion. The agency has a surplus of €4.2 billion and that will, one hopes, go closer to €5 billion, although that still leaves us in the region of almost...
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: On the last question-----
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: I have a question about the large portfolios. What was the lowest number of bidders for any of those large portfolios? You mentioned five or six.
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Okay.
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: However, you understand the point I am making - 350 bidders and 350 separate pieces of property. You mentioned a lot of them were amateurs and we accept that, but you are going from 350 to two. If you are trying to sell a bullock at the mart and you are down to two bidders, with only two interested parties outside the ring, it will not go well for you. That is the point I am making. You...
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Finally, I refer to the locations of the 7,000 units that were offered. You may not have the information with you, and that is fair enough, but would you send the locations to the clerk? I do not want the location of every house and apartment, but what counties they were in and the number in each county. Perhaps you could forward that to the committee because this has been raised at local...
- Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)
Brian Stanley: Deputy Catherine Murphy has a final question. I ask you to be brief.