Results 141-160 of 8,052 for nama

Written Answers — National Asset Management Agency: National Asset Management Agency (17 Jul 2012)

Michael Noonan: I propose to take Questions Nos. 80 to 83, inclusive, together. NAMA advises that it does not own or operate hotels. NAMA's role in relation to the properties securing its loans is 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 receivers/administrators, properties including hotels...

Public Accounts Committee: Business of Committee (27 Nov 2013)

Áine Collins: I have a concern in regard to NAMA. I have got some information from people who are supplying some services to NAMA and they have advised that NAMA is very slow to pay the SME sector for any business those in the sector have done on finishing off properties and so on. Also, it is very hard to get information from NAMA. The people who are dealing with NAMA versus Ulster Bank, ACC or the...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

John Deasy: I will be brief, as this has been a long day. I wish to ask the witnesses about Project Eagle. It is an important question because of what has happened since regarding the reputation of NAMA and the potential damage to public trust in NAMA as this matter has continued. Mr. Daly has made clear that when the agency found out that Mr. Cushnahan was to have taken a fee, it stepped in quickly,...

Written Answers — National Asset Management Agency: National Asset Management Agency (29 Jun 2011) See 1 other result from this answer

Michael Noonan: I assume that the Deputy is referring to NAMA debtors. A register of bankrupts is available at the Office of the Examiner of the High Court and I am advised by NAMA that bankruptcy searches are carried out by NAMA as a matter of course on any personal borrower/guarantor prior to the advance of new funds or on a restructure. Bankruptcy searches are also carried out prior to loan acquisition....

Written Answers — Department of Finance: NAMA Bonds (30 Apr 2014)

Michael Noonan: The conditions for the payment of interest on NAMA Subordinated Bonds are set out in the Subordinated Bonds Termsheet which is available on NAMA's website, .Consistent with Section 49 of the NAMA Act, which governs NAMA's issuance of subordinated debt securities, the NAMA Board may declare interest payable on its subordinated debt if, at its discretion,...

Written Answers — Proposed Legislation: Proposed Legislation (8 Jul 2009)

Brian Lenihan Jnr: The Deputy will be aware that the establishment of NAMA and the interim preparations, including the drafting of legislation, are being overseen by a NAMA Steering Group established by me. The Group comprises representatives of my Department, the NTMA and the Attorney General. To date, the interim NAMA has managed three tender competitions covering (i) banking and financial advice, (ii) tax...

Written Answers — Department of Finance: NAMA Operations (15 Jan 2019)

Paschal Donohoe: I wish to advise the Deputy that it is expected that NAMA will substantially complete its work by 2020/2021 and that, over those two years, the Agency expects that a surplus, currently projected to be €3.5bn, will be available for return to the State. NAMA announced in October 2017 that it had redeemed all of its €30.2bn in Senior Debt which was guaranteed by the State and...

Written Answers — Department of Finance: NAMA Property Sales (4 Dec 2014)

Michael Noonan: I propose to take Questions Nos. 60, 62 and 63 together. NAMA works closely with its debtors to identify opportunities to enhance asset values through the planning process and it therefore evaluates carefully all requests to fund planning applications.  In a large majority of cases, NAMA agrees to such requests and is currently supporting its debtors to advance a number of significant...

Written Answers — Department of Finance: NAMA Property Sales (18 Sep 2012)

Michael Noonan: I propose to take Questions Nos. 306 and 307 together. I am informed by NAMA that it is aware of only one transaction involving the sale of property by a NAMA debtor to a former employee. After NAMA became aware of the particular transaction involved, it instructed its internal auditors, Deloitte, to carry out a comprehensive review of the transaction. The Deloitte review has established...

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

Michael Noonan: I am informed by NAMA that it does not, in all cases, have information on the identity of employers who recruited staff following their resignation from the Agency as some former staff have taken up employment overseas. However, in cases where NAMA has such information, NAMA is satisfied that no sales transactions have taken place between the entities involved and NAMA, its debtors or...

Written Answers — Department of Finance: Redundancy Payments (22 Jun 2017)

Paschal Donohoe: As the Deputy is aware the NAMA retention and redundancy scheme was established to help safeguard NAMA’s performance during an orderly wind-down and allow NAMA to fulfill its objective of maximising value for the State. For the benefit of those unfamiliar with NAMA's redundancy and retention scheme, the Secretary General of the Department of Finance provided a detailed note...

Written Answers — Department of Finance: NAMA Property Sales (12 Jul 2016)

Michael Noonan: Section 10 of the NAMA Act requires NAMA to obtain the best financial return for the State from the sale of loans and the sale of properties that secure its loans.  Consistent with this mandate, NAMA has demonstrated its commitment and contribution to the achievement of wider social and economic policy objectives by giving first option to public bodies on the purchase of property which...

Ceisteanna - Questions - Priority Questions: NAMA Operations (27 May 2014)

Michael Noonan: As the Deputy will be aware, section 227 of the NAMA Act 2009 requires me to complete a review of NAMA every five years. The purpose of the review is to assess the extent to which NAMA has made progress toward achieving its overall objectives and decide whether continuation of NAMA is necessary having regard to the purposes of the Act. As part of this review, my officials will examine...

Written Answers — Department of Finance: NAMA Legal Cases (11 Dec 2018)

Paschal Donohoe: The Deputy will be aware that 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...

Written Answers — National Asset Management Agency: National Asset Management Agency (24 Nov 2009) See 1 other result from this answer

Brian Lenihan Jnr: It will only be possible to determine the eligible assets for transfer to NAMA following the enactment of the NAMA legislation. This will allow for the designation of participating institutions and the designation of eligible assets among other issues. Then the valuation methodology, which is subject to EU approval, will be applied by NAMA on an asset by asset basis to determine the valuation...

Written Answers — Department of Finance: National Asset Management Agency (6 Jul 2021)

Paschal Donohoe: All NAMA staff are employees of the NTMA as Section 42 of the National Asset Management Agency Act, 2009 provides that the NTMA shall assign staff to NAMA. Other than a small number of staff re-assigned from other functions within the NTMA, NAMA staff are employed on the basis of specified purpose contracts i.e. their employment lasts for as long as NAMA requires their particular function. ...

Written Answers — Department of Finance: NAMA Portfolio (14 Apr 2016)

Michael Noonan: NAMA does not own or sell properties. NAMA has acquired loans.  The properties that secure these loans are owned by NAMA debtors and NAMA's legal relationship to those properties is similar to a bank which holds security over a person's house that has a mortgage.  NAMA, unlike other lenders, generally has no residential mortgages, owner-occupier or buy-to-let, in its portfolio...

Written Answers — Department of Finance: National Asset Management Agency (20 Nov 2012)

Michael Noonan: The National Asset Management Agency (NAMA) has no employees. Rather, under Section 42 of the NAMA Act 2009, the National Treasury Management Agency (NTMA) assigns staff to NAMA. I am informed by the NTMA that a company car and health insurance are included in the remuneration package of the NAMA CEO. The value of these benefits (€24,483 in 2011) is published in NAMA’s...

Written Answers — National Asset Management Agency: National Asset Management Agency (4 Oct 2011)

Michael Noonan: NAMA has a commercial remit and a statutory objective to generate a return for the taxpayer. However, within the context of its commercial remit and consistent with section 2 of the National Asset Management Agency Act 2009, NAMA is at all times open to considering proposals aimed at contributing to broader social and economic objectives. Thus NAMA is open to facilitating the work of public...

Written Answers — Department of Finance: National Asset Management Agency (4 May 2022)

Paschal Donohoe: As Minister for Finance, I have no role in respect of NAMA’s commercial operations. The Deputy will be aware that NAMA does not directly own or sell properties. I am advised that in the case of the property referenced by the Deputy, the appointed receiver was responsible for the management and sale of the property. I am advised that before the receiver placed the apartments on...

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