Results 41-60 of 9,894 for nama

Written Answers — Department of Finance: NAMA Court Cases (18 Jul 2013)

Michael Noonan: I propose to take Questions Nos. 127 and 169 together. I am advised by NAMA that it has instigated proceedings for the recovery of debt against a number of NAMA debtors, including the initiation of actions for the reversal of asset transfers, actions arising from bankruptcy proceedings and high value repossessions, and that there are currently 33 such proceedings on-going. The Deputy may...

Written Answers — Department of Finance: NAMA Operations (29 Sep 2015)

Michael Noonan: As I have previously outlined to the Deputy, in Dail Question No. 133 on 16th June 2015, in mid 2014 my officials produced a special report on NAMA's activities in compliance with Section 227 of the National Asset Management Agency Act 2009.  This report assessed the extent to which NAMA has made progress toward achieving its overall objectives and whether...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 May 2011)

Michael Noonan: NAMA advises me that the property or other assets securing loans transferred to NAMA remain in the possession of the debtor unless enforcement action is taken against the debtor by NAMA. Where enforcement action is taken by NAMA, the agency may ultimately take ownership of property but it is expected that in the majority of these instances the property will be managed by a receiver who is...

Written Answers — Department of Finance: NAMA Staff Remuneration (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 194 and 313 together. All NAMA staff are employees of the NTMA and under Section 42 of the NAMA Act 2009, the NTMA assigns staff to NAMA. Other than a small number of staff reassigned from other functions within the NTMA, NAMA staff are employed by the NTMA on the basis of specified purpose contracts - their employment lasts for as long as their particular...

Written Answers — National Asset Management Agency: National Asset Management Agency (19 Jul 2012)

Michael Noonan: I may remind the Deputy that the NAMA Advisory Group has been set up to advise me in the following areas: - The strategy of NAMA. - The appointment of directors to NAMA. - The remuneration of senior executives in NAMA. - Any further advice I may seek of them. The Advisory Group was established under a Direction Order issued by me under Section 14 of the NAMA Act. The group operates on an...

Written Answers — Department of Finance: National Asset Management Agency (23 Sep 2020)

Paschal Donohoe: The Deputy will be aware that NAMA does not generally own properties; rather NAMA owns loans for which the properties act as security. I am advised that NAMA debtors and receivers own an estimated 675 hectares of land suitable for residential development in Ireland. NAMA regularly assesses the feasibility of these sites and, where development is deemed commercially viable; NAMA provides...

Written Answers — Department of Finance: NAMA Portfolio (18 Dec 2019)

Paschal Donohoe: The Deputy will be aware that NAMA’s role is as secured lender and the property assets securing NAMA’s loan portfolio remain under the ownership and control of debtors and receivers. Set out in the attached file is information, in the format held by NAMA, relating to property collateral in Co. Galway that secured NAMA’s loan portfolio for each of the years from 2015 to...

Written Answers — National Asset Management Agency: National Asset Management Agency (10 Nov 2010)

Brian Lenihan Jnr: The issue of oversight and NAMA accountability was debated extensively during the NAMA Bill and there are substantial provisions on accountability in the NAMA legislation. Section 59 of the NAMA Act 2009 makes provision for the Chairperson and CEO of NAMA to appear before a Committee of the Oireachtas, if requested to do so, which is examining matters relating to NAMA. The chief executive...

Written Answers — Department of Finance: National Asset Management Agency (5 Oct 2021)

Paschal Donohoe: I propose to take Questions Nos. 164 and 165 together. NAMA originally issued €1.593 billion in subordinated debt in consideration for 5% of the loans it acquired from the participating institutions. Payment of interest and ultimate redemption of this debt was subject to NAMA’s financial performance. NAMA’s profits have substantially exceeded the subordinated debt...

State Agencies (5 May 2011)

Joe Costello: I am pleased to have the opportunity to raise this important matter. NAMA was established in May 2009 with the remit of transferring the loans on key developments and assets from the books of State-guaranteed banks in return for Government-guaranteed securities. To date, it has accumulated €40 billion of loans on its books and, as such, has an obligation to the State to realise the...

Written Answers — Department of Finance: National Asset Management Agency (2 Nov 2021)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own land in Kildare, rather NAMA acquired loans for which land and other properties act as security. The secured properties are owned and controlled by their registered owners, or appointed receivers, in the event of enforcement. Sections 99 and 202 of the NAMA Act prohibit NAMA from disclosing confidential debtor information, including the...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Feb 2012) See 3 other results from this answer

Gerry Adams: Question 150: To ask the Minister for Finance the funds made available to NAMA borrowers from assets which are in NAMA to pay for the legal fees incurred by the borrower in attempting to prevent NAMA appoint a receiver over their assets; the number of borrowers in NAMA who have commenced proceedings against NAMA but continue to receive a salary from NAMA in accordance with their agreed...

Written Answers — Department of Finance: NAMA Portfolio Issues (5 Nov 2013)

Michael Noonan: NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors or their properties. As the Deputy is aware, NAMA operates a specific Guidance Note to facilitate tenants in making an application through their landlord for a reduction in rent on upward-only commercial leases relating to business premises that secure its loans. ...

Written Answers — Department of Finance: NAMA Staff Data (12 Mar 2015)

Michael Noonan: To date no staff member assigned to NAMA has left due to redundancy. A communication to NAMA Officers in January 2015 presented an outline of a possible redundancy programme. The total number of staff assigned to NAMA was 363 at the start of March 2015. Numbers assigned to NAMA are projected to reduce to 292 by end December 2015 and to 125 by end December 2016 subject to the achievement...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

...loans in receivables, they were not allowed to fair-value them. That's the first point. Secondly, when we audited the 2010 accounts we would have had to audit the gain or loss on the disposal to NAMA and as part of that audit procedures, we would have looked at the amount of which NAMA paid the bank for the transfer. But, as I said, NAMA dictated that. The bank did not have any real...

Written Answers — Department of Finance: NAMA Debtors (25 Jan 2017)

Michael Noonan: I am interpreting the Deputy's question as requesting the number of NAMA debtors who have exited the agency organised by reference to the amount repaid at the time of exit from NAMA as a percentage of the total par debt owed to NAMA.  In this regard, I am interpreting your reference to "total original loan book value" in the details supplied to the question as the total par...

Written Answers — Department of Finance: NAMA Operations (22 Jun 2017)

Paschal Donohoe: As Minister for Finance, I have a specific obligation to review and assess NAMA's activities under Section 227 of the NAMA Act.  The establishment of a Commission of Investigation does not alter this obligation, nor my intention to carry out such a review in due course. The Deputy will be aware that Department of Finance officials previously prepared a...

Ceisteanna - Questions - Priority Questions: NAMA Operations (10 Nov 2016)

Michael Noonan: As the Deputy is aware, Deputies and others inside and outside the House frequently contact NAMA and are entitled to do so under law. As a matter of fact, NAMA circulated the number of a dedicated helpline and a dedicated email address for Deputies through which they can obtain information from NAMA. It is the practice of many Deputies to get such information on behalf of their community or...

Written Answers — Department of Finance: NAMA Property Sales (1 Oct 2013)

Michael Noonan: I have not publicly requested that NAMA defer this property sale; the property in question has been for sale on the open market for some time, which allowed any interested buyer to make their interest known to NAMA. This property was sold at auction on the 27th of September. As the Deputy will be aware that given the independence afforded to NAMA by the NAMA Act, and having established...

Written Answers — Department of Finance: NAMA Legal Cases (5 Feb 2019)

Paschal Donohoe: Section 172(3) of the NAMA Act 2009 is a legal provision preventing any interest in property held as security for loans acquired by NAMA from being sold back to defaulting debtors, or persons acting on behalf of defaulting debtors. In order to ensure compliance with Section 172(3), I am advised that NAMA has a policy of obtaining written confirmation from purchasers of NAMA-secured...

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