Results 1-20 of 123 for nama speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: I will read it then. The question was about the level of NAMA staff that had effectively left NAMA and gone to the private sector. It is worrying that of the 108 staff members who resigned from the agency since its inception nearly 50%, or 51 former staff, have taken up employment in property companies, finance companies, and consultancy and law firms. From a contractual and data...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: A question was put on NAMA's dealings with developers within NAMA. How many developers have exited NAMA at this stage? Have developers purchased assets, including either their own loans or unrelated loans, from within NAMA? A sum of €10 million has been paid out by NAMA in salaries to developers, three of whom are on €200,000, 13 of whom are on between €150,000 and...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: The danger here is that NAMA will effectively become a monopoly, as the largest property developer in Ireland, Europe and the world. It is extremely challenging. The Bill refers to "acquire and dispose of property", "make any planning application in relation to land", "undertake development for the purpose of realising the full value of any asset" and "carry on any business that NAMA...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Kieran O'Donnell: I thank the Chairman and welcome the representatives of NAMA and the Department of Finance to this meeting. To put this in context, NAMA as a financial entity has had an enormous impact on Ireland Inc. Our role as a committee is to examine the use of taxpayers' money. I note in his statement that Mr. Mc Donagh said that he and his colleagues built the organisation, but it was built with...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: This relates to the establishment of a finance committee within NAMA. As Deputy Burton has stated, we have discussed the SPVs at length, and they will be for all intents and purposes the operational vehicle of NAMA. The SPVs will consider day to day activity and all the powers will effectively be delegated to the SPVs. There will be a master SPV and a number of subsidiaries, baby SPVs,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: ...to the Committee of Public Accounts. One of the recommendations made by the Comptroller and Auditor General at the time was that there should be criteria for return on investment, a benchmark for NAMA, which the agency disputed. The question was raised again in the list of questions. It has been lost in some of the commentary that when NAMA was originally established, one of its...

Committee of Inquiry into the Banking Crisis: Nexus Phase (25 Jun 2015)

Kieran O'Donnell: The lead up to that, if NAMA had not been established, and if the haircuts weren't double what they were expected to be in NAMA, was NAMA the lightening rod for the international markets to look in and say, "Ireland as a country cannot afford to bail out the banks to the level that it's expected to be bailing them out."? It made our bond yields go through the roof and it precipitated us...

National Asset Management Agency Bill 2009: From the Seanad (12 Nov 2009)

Kieran O'Donnell: ...the issues. The amendments drafted by the Minister made no reference whatsoever to the SPVs so I tabled an amendment to relate to group entities because I expect that SPVs will do all the work of NAMA and effectively will be NAMA. We could have a situation where the legislation refers to NAMA but people could be employed by the SPVs; the legislation would be unworkable outside of the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)

Kieran O'Donnell: I thank Mr. Daly, Mr. McDonagh and their colleagues. I looked back at the accounts for the first six months, and more particularly for the second quarter. NAMA made a profit of €102 million for the six-month period. However, a net loss was made on the disposal of loans of approximately €140 million. What type of write down is NAMA taking on the disposal of loans? To follow...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Kieran O'Donnell: Mr. McDonagh will appreciate that the original intention during the passage of the NAMA legislation was that NAMA would never be a conduit for people who had loans transferred to NAMA to buy them back at a significantly discounted value through circuitous routes. That feeds into undervaluation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: What percentage of NAMA's loanbook in terms of number and value of loans has been disposed of either by the selling on of loans or realising of loans by NAMA. What is remaining? Will Mr. McDonagh give us a general outline of the way NAMA sees this unfolding?

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Kieran O'Donnell: And that meeting that took place with the ... the NAMA proposal was considered at a meeting with a large attendance at which the Taoiseach presided. Who would've been at that meeting and were you asked for your own opinion on NAMA and what was your view on NAMA at the time?

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Kieran O'Donnell: Professor Ahearne wrote an article about NAMA in July 2008 in which he said the best practice was for banks to recognise the losses of the loans up front and sell the assets at fair market value. Dr. Bacon, who was before the committee this morning, was the architect of NAMA and he said there were €34 billion in impairments on €80 billion of loans, a write-off of between 50%...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: I do not know which hotel he stayed in, but it obviously was not a NAMA hotel. NAMA was established for the purpose of getting credit flowing again, to take pressure off banks' balance sheets and provide a structure to get the economy moving. I will deal in my questions with the reasons for the establishment of NAMA and its achievements to date. I am asking questions from the point of view...

Committee of Inquiry into the Banking Crisis: Nexus Phase (24 Jun 2015)

Kieran O'Donnell: Just one. Okay. Can I take it that the fact that the original NAMA draft plan was based on a 30% discount, which would have been the ... the ... NAMA paying around €54 billion for €77 billion of gross loans and that ended up ... that NAMA paid over €20 billion less. So for €74 billion they ended up paying €32 billion, so, instead of a 30% discount, it was...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functioning of NAMA: Discussion (16 Dec 2015)

Kieran O'Donnell: I welcome the estimate of the €2 billion profit. To play devil's advocate, how would NAMA respond to the argument that there was a write-off of over €40 billion of taxpayers' money in terms of the banks so that the profit of €2 billion is on the values NAMA took them over at? How does NAMA respond to that argument? Will the profit actually be €2 billion?

Financial Emergency Measures in the Public Interest (No. 2) Bill 2009: Committee and Remaining Stages (16 Dec 2009)

Kieran O'Donnell: Exactly. I am trying to give context to the debate and underpin it with thought. I support this amendment, which should apply to both Anglo Irish Bank and NAMA. We are told NAMA should be self-financing. We should not be paying exorbitant salaries which will take away from the bottom line. Those working for the agency should be paid reasonable salaries. There should be consistency...

Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)

Kieran O'Donnell: In terms of the IBRC and the valuation of the loans, what is NAMA’s involvement in the valuations at which the loans are being taken over? What is NAMA’s general view on that? NAMA has €4.1 billion in cash at the moment. What does it intend to do with it? I would also like an indication in terms of the SME sector. The availability of office accommodation arises in...

Announcement by Minister for Finance on Banking of 30 September 2010: Statements (Resumed) (30 Sep 2010)

Kieran O'Donnell: This is a stark day for the Irish economy. The Minister said NAMA was to deal with development loans but the purpose of NAMA was to free up credit for the SME sector. There is no logical reason to transfer the remaining development loans from Anglo Irish Bank to NAMA. What is the expected cost to the taxpayer via the National Pensions Reserve Fund for the recapitalisation of AIB? The bank...

European Central Bank Lending. (3 Feb 2010)

Kieran O'Donnell: ...former chief executive officer of Allied Irish Banks, Mr. Eugene Sheehy, indicated at a meeting of the Oireachtas Committee on Finance and the Public Service before Christmas that AIB may not use NAMA bonds to obtain credit from the ECB. In light of this, is the Minister confident that NAMA will facilitate a flow of credit to small business? Does he expect that the banks will use NAMA...