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Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: 11. To ask the Minister for Finance his views on the details surrounding a loan sale (details supplied) which was sold off market and for less than 10% of its original value; if he is satisfied that NAMA is not in breach of section 2(iv) of the NAMA Act 2009, which requires it to protect the interests of the taxpayer; and if he will make a statement on the matter. [48606/18]

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: I raised the issue of the Project Nantes loan sale in this House in May 2017 with the then Minister, Deputy Noonan. He told me that NAMA could not reveal any information on this loan sale under sections 99 and 202 of the NAMA Act. The current Minister refused to answer twice, on the same grounds, but sections 99 and 202 do not apply to the Houses of the Oireachtas, yet the Minister has...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: ..., Olan Cremin, Thomas Dowd and Peter Donnelly, had borrowed heavily during the boom, mainly from Anglo Irish Bank, and owed €489 million when the crash came. The €489 million went across to NAMA and NAMA assembled a portfolio with €352 million of this debt, naming it Project Nantes. The three boys went off to America to find someone to put up the money and found a...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: There is no doubt that the Comptroller and Auditor General is a serious operator and he is a credit to his office, but he has found it very difficult to get information out of NAMA. It was very obvious during the protracted Project Eagle case that NAMA was very reluctant to co-operate with the Comptroller and Auditor General in a fair manner. NAMA is deliberately downplaying the requirement...