Results 121-140 of 8,318 for nama

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009)

Brian Lenihan Jnr: As Minister for Finance I will have no role in the appointment of staff to the National Asset Management Agency (NAMA). The legislation to establish NAMA includes detailed provisions on the staffing of NAMA including the assignment of staff to NAMA from the NTMA. Pages 22 - 24 of the NAMA draft business plan set out details on the proposed level of staffing in NAMA and the allocation of staff...

Written Answers — Department of Finance: NAMA Portfolio Value (17 Jul 2014)

Michael Noonan: I propose to take Questions Nos. 90 and 91 together. I have been advised by NAMA that the carrying value of its loan assets at 31 March as disclosed in the Q1, s.55 Report and Accounts is €27bn, including €8.7bn outstanding in respect the IBRC loan facility deed and floating charge. NAMA publishes the estimated market value of its loan assets and a breakdown of its portfolio by...

Written Answers — Department of Housing, Planning, Community and Local Government: Social and Affordable Housing Provision (19 Jan 2017)

Simon Coveney: NAMA was established as an independent commercial body to operate under the direction of its Board of Directors, in accordance with the NAMA Act. Under Section 10 of the NAMA Act, NAMA is mandated to act in a commercial manner to obtain the best financial return for the State. As such, NAMA's dealings with its debtors, as well as the management, funding and sale of assets are all commercial...

Written Answers — Department of Finance: Land Issues (2 Mar 2022)

Paschal Donohoe: As the Deputy may be aware, NAMA does not typically own or control properties; rather NAMA owns loans for which the properties act as security. The properties securing NAMA’s loans are owned and controlled by their registered owners, or appointed receivers in the case of enforcement. The Deputy will appreciate that, under Sections 99 and 202 the NAMA Act and in line with normal...

Written Answers — Department of Finance: NAMA Property Sales (9 Nov 2016)

Michael Noonan: I propose to take Questions Nos. 93 and 94 together. As the Deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner or manager of properties. The Agency's role is, like a bank, that of a secured lender. Other than properties that have been enforced, all of which are listed on NAMA's website and which are managed by the appointed...

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

Michael Noonan: NAMA has engaged positively and proactively on this issue. To end-June 2013 NAMA had received 296 eligible applications from its debtors for rent abatement. 234 applications had been approved, 10 were refused and the remaining 52 are under review. The value of such rent reductions by NAMA is in excess of €14m per annum. NAMA issued a Guidance Note on Upward Only Commercial Leases...

Written Answers — Department of Finance: NAMA Operations (25 Oct 2018)

Paschal Donohoe: NAMA has a well-established overriding commercial mandate to recoup the best return for the Irish taxpayer. However, that does not mean that NAMA does not carry out activities, such as facilitating the delivery of residential and social housing, which are entirely consistent with its existing purpose and objectives. NAMA is already making a significant contribution to the supply of...

Written Answers — Department of Finance: National Asset Management Agency (15 Jun 2021)

Paschal Donohoe: The Deputy will be aware that, under sections 99 and 202 of the NAMA Act 2009, NAMA is unable to divulge confidential information regarding NAMA debtors or their assets, or commercial transactions in which they are involved. Notwithstanding these statutory and legal limitations, I am advised by NAMA that there have been limited sales of loans and assets to one of the three named parties....

Written Answers — Department of Finance: NAMA Property Construction (8 Oct 2013)

Michael Noonan: NAMA advises me that NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors and their properties to any third party. NAMA’s role in relation to properties is, like a bank, that of a secured lender. NAMA, as with other lenders, does not procure or manage construction contracts in respect of properties securing...

Committee of Inquiry into the Banking Crisis: Nexus Phase (6 May 2015)

Eoghan Murphy: Okay, thank you. I just want to move to some of the evidence NAMA gave us when they were before us in relation to how NAMA debtors and the banks were managed once NAMA was announced. And one of the things that NAMA told us was that the extent to which NAMA, the banks, sorry, were collecting income from things like office blocks or shopping centres where the banks themselves ... that was not...

Written Answers — Department of Finance: NAMA Loan Book Value (14 Apr 2016)

Michael Noonan: At inception, NAMA acquired loans with balances of €74 billion and with a current market value of €26.2 billion at acquisition.  In accordance with the European Commission's valuation methodology, NAMA paid €31.8 billion for these loans, including €5.6 billion in State aid to the five participating institutions. It is important to recognise that NAMA acquired...

Written Answers — Department of Finance: NAMA Debtor Agreements (20 Jun 2017)

Paschal Donohoe: I propose to take Questions Nos. 246 to 248, inclusive, together. The Deputy will be aware that NAMA is required, under Section 10 of the NAMA Act 2009, to obtain the best financial return from its acquired loans. Among the measures adopted to achieve this statutory objective, NAMA enters into arrangements with some co-operative debtors which involve measures to motivate debtors to...

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

Michael Noonan: I refer the Deputy  to page 41 of NAMA's Annual Report and Financial Statements for 2014, which is available from the NAMA website at and which contains a section called "Rate of Return Benchmark".  In this section NAMA notes that during 2014 the NAMA Board approved an Entity Return on Investment (EROI) target benchmark of 20%. The project EROI return as at end-2014...

Written Answers — Department of Finance: National Asset Management Agency (27 Jul 2021)

Paschal Donohoe: NAMA’s statutory mandate per section 10 of the NAMA Act 2009 is to achieve the best commercial return from its acquired loans. In that context, NAMA judiciously advances funding to its debtors and receivers in order to optimise the disposal value of secured properties. Such funding is provided on a commercial basis and repaid to NAMA when the properties (or loans) are sold. NAMA...

Written Answers — Department of Finance: NAMA Loan Book Value (20 Sep 2017)

Paschal Donohoe: I would firstly refer the Deputy to my response to Parliamentary Question 94 of 29 June 2017, where I highlighted page 46, in particular, of the 2016 NAMA Annual Report, which outlines that the outstanding principal balance of NAMA’s loans and receivables portfolio at end-2016 was €28.4 billion.  The corresponding carrying value of loans (net of impairment) held...

Written Answers — Department of Finance: NAMA Receivers (25 Mar 2014)

Michael Noonan: NAMA advises that a total of 258 receiver appointments have been made to date in Ireland. Appointments have been made to both commercial entities and to specific properties across various sectors. NAMA advises that receiver appointments include those made prior to the acquisition of the loans by NAMA. Receiver appointments by the participating institutions include appointments made since...

Written Answers — Department of Finance: NAMA Transactions (20 Jun 2017)

Paschal Donohoe: NAMA expects to repay its outstanding guaranteed senior debt of €500m by the end of 2017 and to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential funding programmes in the interim period to 2020. NAMA's 2016 Annual Report was laid before the Oireachtas on 1 June 2017 and provides further insight...

Written Answers — Department of Finance: NAMA Code of Conduct (18 Sep 2012)

Michael Noonan: I am informed by NAMA that all of its officers are provided with a copy of the Code of Practice – Conduct of Officers of NAMA when they are assigned to NAMA and they are required to sign an undertaking that they have read, understood and will comply with it. This document, which is published on www.nama.ie, sets out in detail the obligations of officers of NAMA with respect to...

Redundancy Payments (14 Dec 2011) See 1 other result from this debate

Ciarán Cannon: I am replying to this Topical Issue Debate on behalf of my colleague, the Minister for Finance, Deputy Michael Noonan. Reports in the media suggest that due to its assets having been frozen by NAMA, the employees of the Vita Cortex plant in Cork are being deprived of redundancy payments. In particular, it is reported that NAMA has control over a company bank account with cash assets of...

Written Answers — Department of Finance: Housing Data (21 Jul 2020)

Paschal Donohoe: I am advised by NAMA that, from 2014 to end-March 2020, NAMA has funded the direct delivery of 11,761 residential units and facilitated the indirect delivery of 5,357 units. Therefore, the figure of 17,000 units per NAMA’s 2019 Annual Report includes 5,300 units which have been indirectly delivered by NAMA. Indirect delivery relates to units delivered on sites for which NAMA...

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