Results 1-20 of 138 for nama speaker:Seán Fleming

Seanad: Nithe i dtosach suíonna - Commencement Matters: National Asset Management Agency (18 Nov 2021)

Seán Fleming: I thank the Deputy for raising the issue in relation to NAMA, which has been ongoing for a number of years. NAMA was given a difficult job to do when it was established as an independent commercial body with a very specific legal and commercial mandate, which was approved not just by the Dáil and the Seanad, but specifically by the European Commission, in 2010. It is following its...

Seanad: Nithe i dtosach suíonna - Commencement Matters: National Asset Management Agency (8 Dec 2021)

Seán Fleming: ...challenging for developers throughout the sector. Some sites that have planning permission in place are not viable to build on, and this is especially true for certain apartment blocks. Under NAMA's legislation, commercial viability is the most important and relevant factor for NAMA-funded residential development. This basically means that NAMA can only finance developments that are...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: We will write back to NAMA arising from that letter to say that it has established that the person identified as a director of the purchaser entity was not a NAMA debtor. We will write back straight up asking if there was any connection between that person and a NAMA debtor. Maybe that person was not a NAMA debtor but we want to know if there was any connection and NAMA should know that and...

Seanad: Nithe i dtosach suíonna - Commencement Matters: National Asset Management Agency (18 Nov 2021)

Seán Fleming: I am not saying the Senator is unaware of this, but it is important to note that NAMA does not own the development sites in its portfolio. The public does not necessarily know that. NAMA owns the loans; it does not own the land or the properties. The properties are owned by developers who owe money to NAMA. If the developers can clear their debts with NAMA, they are gone. If they clear...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Seán Fleming: ...sequence - Deputies McDonald, MacSharry, Kelly and Madigan. I ask others to please indicate so that the clerk can take a note. As Chairman of the Committee of Public Accounts I must ask NAMA the following. NAMA has criticised the Comptroller and Auditor General because he had no credible market-based evidence. In other words, he did not have knowledge of the market of valuation. At...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: ...there was no political pressure. I looked at the information presented to the committee. A letter arrived from the Northern Ireland Finance Minister to the Minister for Finance and was sent on to NAMA and suddenly it was selling the whole thing as one job lot. Had that letter not arrived through the political process, would NAMA have moved at the time to sell the whole thing? Did this...

Written Answers — Department of Finance: NAMA Ownership Data (12 Jul 2018)

Seán Fleming: 101. To ask the Minister for Finance the persons or organisations that are the 51% owners of the NAMA group; the shareholding of each of these persons and organisations; the amount of dividend paid to each in each year to date since NAMA was established; the expected dividend that will be paid to them between now and the expected conclusion of NAMA activities; the amount of funding each of...

Written Answers — Department of Finance: NAMA Operations (10 Oct 2017)

Seán Fleming: 28. To ask the Minister for Finance the persons or organisations that are the 51% owners of the NAMA group; the shareholding of each of these persons and organisations; the amount of dividend paid to each in each year to date since NAMA was established; the expected dividend that will be paid to them between October 2017 and the conclusion of NAMA's activities; the amount of funding each of...

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

Seán Fleming: So it was a voluntary disclosure. I found the reference in the accounts unusual. NAMA is managing a lot of its portfolio itself but it has participating institutions managing some of the activity. Mr. McDonagh mentioned AIB and Capita. To be helpful, we see on page 13 that NAMA made 181 insolvency appointments and the other companies working as agents for NAMA appointed 275. What...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 6 - Land Swap Arrangement in the Provision of Affordable Houses
Vote 13 - Office of Public Works (30 Jan 2014)

Seán Fleming: -----that the payments are being made to NAMA each year. It is really NAMA's responsibility to send the Department the bill because it is due the extra legal fees. If there is an extra €1 million in legal fees, it will be payable to NAMA for NAMA to discharge to whomever necessary. Am I right in saying that?

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

Seán Fleming: The next question I want to ask concerns the €23.5 billion in disposals to date. In respect of the actual disposals - those loans are gone now - what impairment had NAMA against them? In other words, what was the book value of NAMA's actual disposals to date? I am not talking about the book value in the banks but am saying the €23.5 billion was realised by NAMA on a certain...

Seanad: Nithe i dtosach suíonna - Commencement Matters: National Asset Management Agency (8 Dec 2021)

Seán Fleming: I thank the Senator for raising this issue. The issue of housing and NAMA is always a matter for discussion and should regularly be discussed in the Seanad and Dáil Éireann. As the Senator rightly said, the taxpayer heavily invested in bailing out the banks originally. As a preamble, the five banks the Senator mentioned that were bailed out and whose commercial loans were...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Seán Fleming: Mr. Daly has told us about NAMA's assessment of the economy. He has told us that the price was based on its assessment of the Northern Ireland economy. Did NAMA carry out an assessment? We are talking about billions of euro here. A couple of hundred thousand euro would have given NAMA some economic assessment of the growth. Did NAMA carry out an assessment?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Seán Fleming: Therefore, NAMA was aware that it was an individual. While it might not be easy to bring this up on the screen, among the documents NAMA sent to us was a letter dated 23 July 2015 from Mr. Daly to Martin McGuinness in his constituency office in Cookstown, County Tyrone. It is part of a bundle of documents NAMA submitted to us. I will read the paragraph which I find a bit unusual....

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

Seán Fleming: I welcome Mr. Daly, Mr. McDonagh and their colleagues. It has been a long day. I will briefly address an issue that a number of members mentioned. It would be helpful if NAMA attended the Northern Ireland Assembly's committee meeting to assist in the latter's inquiries. I also agree with those members who asked that another Deputy appear before this committee to help us with our...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Seán Fleming: Today the committee will continue its examination of the Comptroller and Auditor General's special report No. 94 on the National Asset Management Agency, or NAMA as it is better known, and its sale of Project Eagle. Project Eagle was the code name given to the sale of NAMA's Northern Ireland loan portfolio. To date, we have met representatives of NAMA, the Minister for Finance, Deputy...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Seán Fleming: ...rather than what potentially or possibly could have happened. We are dealing with what actually happened. When Fortress read about the leak, it made immediate inquiries at a very high level in NAMA and at Government level, and the following day it was in the process. That is what actually happened. I suggest that NAMA was very fortunate that there was a media leak. If NAMA had not had...

Public Accounts Committee: Business of Committee (22 Nov 2018)

Seán Fleming: It is No. 1724B. It is only one page. NAMA had given us a breakdown of where the purchasers of NAMA property sold in Ireland were from and we asked for the breakdown of all secured assets worldwide. The letter indicates that the jurisdiction of the purchasers in respect of the €24 billion of secured assets, both Irish and foreign, is as follows: 33% of the purchasers were in Great...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Seán Fleming: Why did NAMA not hang in? I am just asking the question. It was a NAMA decision. It was nothing to do with the Comptroller and Auditor General. NAMA was satisfied that it had a bidder that was going to pay £1.3 billion. The only reason it was going to do so was that it knew it would make several hundred million out of it. Why did NAMA not try to emulate what Cerberus is now doing?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Role and Functions of NAMA: Discussion (24 Oct 2012)

Seán Fleming: That is interesting. Will Mr. McDonagh briefly outline NAMA's dealings with local authorities? NAMA has sites in many locations throughout the country which can be used by local authorities for community and social purposes. Is there much happening in that regard? Does NAMA have agreements in place to allow local authorities to use such properties? How is a decision made in respect of the...