Results 81-100 of 8,843 for nama

Written Answers — Department of Finance: National Asset Management Agency (31 Mar 2022)

Paschal Donohoe: All NAMA staff are employees of the NTMA and are assigned to NAMA by the NTMA in line with Section 42 of the NAMA Act 2009. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are typically employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. Staff assigned to NAMA...

Written Answers — Department of Public Expenditure and Reform: Legal Costs (7 Jul 2015)

Brendan Howlin: The total of legal fees incurred by the Office of the Commissioner for Environmental Information (OCEI) to date in the case of NAMA v Commissioner for Environmental Information is €97,000.  It is expected that additional fees will be incurred in the coming weeks. The total of all legal fees incurred by the OCEI since its inception to date, including those for the NAMA case, is...

Written Answers — Department of Finance: NAMA Court Cases (5 Mar 2013)

Michael Noonan: Under the National Asset Management Agency Act 2009 (the NAMA Act) NAMA was established as a body corporate and Section 9(3) of the NAMA Act provides that "except as otherwise provided by this Act, NAMA is independent in the performance of its function under this Ac". NAMA is governed by an independent board of directors. This is a matter for Board of NAMA.

Written Answers — Department of Finance: NAMA Property Sales (3 May 2017)

Michael Noonan: The Deputy will appreciate that NAMA's engagement with its debtors and any decisions it makes arising from that engagement are confidential matters for the NAMA Board in line with its statutory independent mandate. The Deputy will be aware that NAMA owns and sells loans and not property. Separately, assets securing NAMA's loans are owned by the debtor or receiver. As such...

Written Answers — Department of Finance: National Asset Management Agency (14 Jun 2022)

Paschal Donohoe: I propose to take Questions Nos. 381 to 383, inclusive, together. As the Deputy will be aware, NAMA does not own properties, it owns loans. The properties securing NAMA’s loans are owned by debtors. These debtors, or receivers in the case of enforcement, manage and control the properties. If a State body expresses interest in a property secured to NAMA, NAMA will facilitate...

Written Answers — Department of Finance: NAMA Operations (20 Mar 2013)

Michael Noonan: As the deputy is aware NAMA has acquired loans and is not the owner or operator of properties. The Agency’s role is that of a secured lender. NAMA appointed a panel of property valuers in 2009 to assist in the valuation of property that was security for loans being acquired and that this process has now concluded. Other than properties that have been enforced, all of which are listed...

Written Answers — Department of Finance: NAMA Staff Remuneration (4 Oct 2012)

Michael Noonan: ...Nos. 81 and 82 together. I refer the Deputy to my responses to Parliamentary Questions from Deputy Patrick O’Donovan on 18 September last on the same topic which I have set out below. All NAMA staff are employees of the NTMA. 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...

Written Answers — Department of Finance: NAMA Operations (14 Jul 2015)

Michael Noonan: NAMA's statutory objectives are clearly defined in the NAMA Act 2009 (NAMA Act).Section 10 of the NAMA Act requires NAMA to obtain the best achievable financial return for the State, deal expeditiously with the assets acquired by it and to protect or otherwise enhance the value of those assets.  That is the core of NAMA's mandate and it is clearly a commercial one. Where, in accordance...

Written Answers — Department of Finance: NAMA Debtors (28 Feb 2017)

Michael Noonan: In answering the Deputy's question I would refer the Deputy to the information that is published by NAMA on a quarterly basis as part of its Section 55 report.  This information is laid before the Houses and is available on the NAMA website. Footnote 15 of the NAMA quarterly Report and Accounts sets out a full reconciliation of the movement in NAMA's loans and...

National Asset Management Agency: Motion [Private Members] (20 Oct 2015)

Michael Noonan: ...with allegations of wrongdoing on the buyer side of this transaction are entirely wrong; — despite all the confusion and conflation in the coverage of this matter, the fact is that there are no claims of wrongdoing against NAMA; and — NAMA is already subject to a high level of public accountability compared to other commercial bodies, including commercial bodies in the...

Written Answers — Department of Finance: NAMA Staff Data (30 Jun 2015)

Michael Noonan: I am advised by NAMA that 17 NTMA staff assigned to NAMA under Section 42 of the NAMA Act were placed on garden leave during 2014 with an attributable cost of approximately €400,000 inclusive of Employer's PRSI.NTMA staff are employed on the basis of confidential individually negotiated contracts. I am further advised by NAMA that garden leave does not represent an incremental...

Written Answers — Department of Finance: NAMA Portfolio (15 Oct 2019)

Paschal Donohoe: As the Deputy may be aware, NAMA does not own property, rather NAMA has acquired loans for which properties act as security. I am advised by NAMA that its debtors and receivers control a small number of properties in Newbridge, County Kildare.  Under Sections 99 and 202 of the NAMA Act, NAMA is prohibited from disclosing confidential debtor information, including information on...

Written Answers — National Asset Management Agency: National Asset Management Agency (12 Jan 2011)

Brian Lenihan Jnr: There are no proposals to make any changes to the structure of the NAMA SPV. The recent acquisition of a majority shareholding in AIB does not have any implications for the ownership structure in NAMA. While a group of clients of Allied Irish Banks Investment Managers, have invested €17m in the NAMA SPV, it is important to note that the beneficial owners of the investment are pension...

Written Answers — Department of Finance: Defective Building Materials (18 Oct 2022)

Paschal Donohoe: I wish to remind the deputy that NAMA was established as an independent commercial body and as Minister for Finance, I do not have a role in its operations or decisions. As the deputy will be aware, NAMA does not own property, rather NAMA owns loans relating to property and the properties themselves act as security for the loans. Properties commonly referred to as “NAMA...

Written Answers — Department of Finance: National Asset Management Agency (19 Dec 2012)

Michael Noonan: NAMA advises me that, given its remit under the NAMA Act, it must recruit staff with the requisite experience and expertise and that it would not therefore be possible to recruit only officers who have not worked with firms on NAMA panels. The key issue, however, is that NAMA takes steps to ensure conflicts of interest do not occur. Under Section 42 of the NAMA Act, before he or she is...

Written Answers — Department of Finance: NAMA Operations (29 Jun 2017)

Paschal Donohoe: The Deputy will be aware of my response to Parliamentary Question 246 of 20 June 2017 regarding the same topic. In that response I explained that NAMA is required, under Section 10 of the NAMA Act 2009, to obtain the best financial return from its acquired loans. I also explained in my previous response that, among the measures adopted to achieve this statutory objective, NAMA enters...

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

Michael Noonan: I am advised by NAMA that fees are not paid to receivers directly by banks or NAMA rather they are paid out of the proceeds of assets under receivership or the management thereof pending realisation. NAMA also advises that the costs incurred through the appointment of receivers to NAMA-managed debtor connection assets are as follows: 2010: €2 million 2011: €10.3 million The figure...

Written Answers — Department of Finance: NAMA Assets Sale (7 Jul 2015) See 1 other result from this answer

Michael Noonan: The NAMA Act provides for the establishment of Advisory Committees. Following discussions between the then Minister for Finance and the Minister of Finance and Personnel of Northern Ireland, it was agreed that an advisory committee would be established to advise the NAMA Board in relation to matters regarding NAMA's Northern Ireland assets. On the proposal of the then Minister for...

Written Answers — Department of Finance: NAMA Debtor Agreements (4 Mar 2014)

Michael Noonan: I am advised by NAMA that it has completed the assessment of all 775 debtor business plans.  I am advised that NAMA has three core strategies in place for debtors. A strategy of debtor support is in place for debtors who have 43% of NAMA debt, a restructuring strategy is in place for debtors with 26% of NAMA debt and an enforcement strategy is in place for debtors with 31% of the NAMA...

Written Answers — Department of Finance: NAMA Portfolio (1 Jun 2016)

Michael Noonan: The Deputy will be aware that NAMA does not own residential property. Rather NAMA has acquired loans and its role is that of a lender with claims over security for its loans, like a bank, rather than a property owner or lessor. Information on the value and performance of NAMA loans is included in NAMA's Section 55 quarterly accounts, which are published on the NAMA website, www.nama.ie....

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