Results 161-180 of 8,071 for nama

National Asset Management Agency (23 May 2012) See 2 other results from this debate

Michael McGrath: This issue goes to the heart of the need for transparency in the operation of NAMA. This came to my attention because of the sale of a 450 acre land bank outside Cork city. It was sold by agents appointed by a NAMA debtor and the sale was completed without the property being put on the open market. On further investigation, it appears this is not an unusual occurrence. NAMA is hiding...

Written Answers — National Asset Management Agency: National Asset Management Agency (25 Apr 2012)

Michael Noonan: The ECB did not provide loans to NAMA to acquire assets from the participating institutions. NAMA issued Senior Notes to the Participating Institutions which can be extended annually subject to the agreement of the note holders. NAMA has already redeemed €1.25bn of these Notes. I am advised that the objective of the NAMA Board is to redeem all Senior Notes on a phased basis by the end of...

Written Answers — Department of Finance: NAMA Debtors (24 Sep 2013)

Michael Noonan: I am advised by NAMA that it does not pay a salary to any debtor. NAMA seeks to ensure that income generated by assets securing NAMA loans is applied towards repaying a debtor’s indebtedness to NAMA. However as part of the debtor business plan, debtors retain an agreed portion of this income to cover business overheads. In certain circumstances, debtors are allowed a salary out of...

Written Answers — National Asset Management Agency: National Asset Management Agency (20 Jun 2012)

Michael Noonan: As the deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner/operator of properties. The Agency's role 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 continue to be managed by their existing owners...

Ceisteanna - Questions (Resumed) - Priority Questions: NAMA Operations (27 Mar 2018)

Mick Wallace: NAMA's approach to the control and retention of data borders on the criminal. There have been two cases in the past month in this regard. In one case, NAMA has been heavily criticised for its approach to data and information held within the agency. The Data Protection Commissioner found that NAMA was in breach of its obligations under data protection law in its response to a request for...

Written Answers — National Asset Management Agency: National Asset Management Agency (3 Dec 2009)

Brian Lenihan Jnr: It is envisaged that the NAMA Master SPV will be set up shortly after NAMA is established. It will be jointly owned by private investors, who will own 51% of its ordinary equity, and by NAMA, which will hold the remaining 49% ordinary equity. The Master SPV will have its own Board, with members appointed by NAMA and possibly members appointed by the private sector equity investors. The...

Written Answers — Department of Finance: NAMA Transactions (4 Apr 2017)

Michael Noonan: I do not propose to commission the review suggested by the Deputy.  NAMA is already subject to a substantial level of scrutiny from the Oireachtas and to audit by the Comptroller and Auditor General, including the C&AG's Section 226 review which I understand is currently underway. Nor do I propose to take any action with regard to NAMA's future sales activity.  As I pointed...

Written Answers — Department of Finance: NAMA Portfolio Issues (16 Oct 2013)

Michael Noonan: As the Deputy will be aware, given the independence afforded to NAMA by the NAMA Act, and having established NAMA’s mandate through legislation, I have no role as Minister for Finance in relation to strategies applied by NAMA in fulfilling that mandate. NAMA’s role is that of a secured lender, like any bank they own the debt while the debtor or appointed liquidator still owns...

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

Michael Noonan: I am advised by NAMA that to end-May 2013 its debtors and receivers had recorded 3,800 cash receipts in respect of asset sales totalling €8.26bn. NAMA advises that cash receipts may relate to the sale of individual properties or the sale of multiple property units as well as the sale of non-real estate assets. Included in these cash receipts are the sale of 5,500 individual property...

Seanad: National Asset Management Agency (6 Oct 2011) See 2 other results from this debate

Michael Noonan: I thank Senator Byrne for raising this issue. Section 10(2) of the National Asset Management Agency Act provides that NAMA shall obtain the best achievable financial return for the State with regard to its operations. NAMA assures me that it is fully focused on doing just that. The chairman of NAMA recently informed the Joint Committee on Finance, Public Expenditure and Reform that it...

Written Answers — National Asset Management Agency: National Asset Management Agency (28 Feb 2012)

Michael Noonan: A review of NAMA was carried out by Mr. Michael Geoghegan in 2011 at the request of the NAMA Board and with my agreement. In his report he made a number of proposals to the Board of NAMA including the appointment of a Chief Financial Officer (CFO). These proposals were considered by the Board and, on 15th February 2012, NAMA announced a reorganisation of functions, the establishment of new...

Written Answers — Department of Finance: NAMA Property Rental (27 Jan 2015)

Michael Noonan: NAMA's Guidance Note on Upwards Only Rent Reviews, which has been in place since December 2011, is available on the NAMA website, , and sets out for tenants both the process involved in making an application for rent abatement through a NAMA debtor or receiver and the financial information that must be submitted alongside such an application.  NAMA can only assess applications submitted...

Written Answers — Department of Finance: NAMA Staff Data (24 Sep 2015)

Michael Noonan: I am advised by NAMA that to date no staff member has left due to redundancy and therefore no payments have been made under the NAMA redundancy programme. As previously advised,  the NAMA Board has projected based on its current strategy that the total number of staff assigned to NAMA will reduce from 342 currently to 291 by the end of this year and to 125 by the end of 2016 subject to...

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

Paschal Donohoe: I would firstly refer the Deputy to page 46 of NAMA's recently published 2016 Annual Report. The report contains a significant amount of information on NAMA's remaining loan book and upcoming plans.  NAMA's 2016 Annual Report can be accessed via: As per page 46 of the 2016 NAMA Annual Report, the outstanding principal balance of NAMA’s loans and receivables portfolio...

Public Accounts Committee: 2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014 (3 Dec 2015) See 1 other result from this debate

Joe Costello: At this point in time, we are 50% of the way through NAMA's remit. It was set up in 2010 and is due to go out of existence in 2020. It has paid off or is on the way to paying off 80% of its debt by next year. That was €32 billion, of which twenty-something billion euro has been paid off. At this point, NAMA has accumulated a considerable profit and is it not time to review the...

Written Answers — Department of Finance: NAMA Accounts (8 May 2013)

Michael Noonan: All NAMA staff are employees of the NTMA and under section 42 of the National Asset Management Agency Act 2009, the NTMA assigns staff to NAMA. NAMA reimburses the NTMA the costs incurred by the NTMA in assigning staff and providing business and support services to NAMA. NAMA staff costs, excluding employer pension contributions and PRSI, were €21.952m in 2012. NTMA staff members...

Written Answers — Department of Finance: NAMA Loans (16 Jan 2013)

Michael Noonan: I am advised by NAMA that Sections 99 and 202 of the NAMA Act 2009 relate to debtor confidentiality, not to the sale of assets. We assume the Deputy is referring to Section 172 of the NAMA Act which relates to Limitations on certain dealings in land etc. As NAMA is not permitted to sell assets to borrowers in default, neither I nor NAMA are in a position to assess the potential foregone...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Statement of Strategy 2017: Department of Finance (19 Jan 2017)

Gerry Horkan: Regarding what NAMA does and how it does it, if the Department is not happy with what NAMA is doing or how it is being done, can the Department change what NAMA is doing or is NAMA independent of the Department? Can NAMA do whatever it wants irrespective of the Department's opinion?

Written Answers — National Asset Management Agency : National Asset Management Agency (3 Feb 2010) See 2 other results from this answer

Brian Lenihan Jnr: The NAMA draft business plan published in October 2009, was prepared by the interim NAMA team for the purpose of outlining the background to NAMA and the manner in which it will carry out its functions and duties. It is important to emphasise that much of the information regarding the prospective NAMA portfolio included in this draft Business Plan is based on aggregate data which had been...

Written Answers — National Treasury Management Agency: National Treasury Management Agency (27 Mar 2012)

Michael Noonan: NAMA has a commercial mandate to obtain the best achievable financial return on behalf of the State. It has emphasised repeatedly that one of its objectives is to instigate the sale of properties by its debtors and in order to facilitate this, it approves the sale of properties by debtors at realistic current market prices. In terms of determining an appropriate current level of pricing for...

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