Results 1-20 of 21 for nama speaker:Colm Burke

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: ...the representatives for giving us their time here this morning, as well as for the work they have done. My question may have already come up because I was out for a short period of time. In 2021, NAMA identified a potential for 7,283 units. In fact, I think the figure that has now been reached is 2,621. Why is there such a difference between the potential that was identified and what...

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: One of the problems I am coming across is where financial institutions - this is nothing to do with NAMA - have received possession of properties. I have come across at least four properties where the financial institution has had possession of them for more than 15 years and they have remained idle for that 15-year period.

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: ...mortgages with AIB and are now with Everyday Finance. They have all been idle for more than 15 years. Has there been any engagement with the banks, and especially with AIB? I ask this because NAMA came in and assisted AIB. Has there been any engagement with AIB as regards the number of properties they sold on to other financial institutions which are still currently not occupied?

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: National Asset Residential Property Services, the agency now dealing with the houses in NAMA, was to transfer to the Land Development Agency in 2022. Did that occur?

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: I will go back to the start of NAMA. It paid €31.8 billion as part of a write-down on loans of €74.4 billion. That was technically a 57% write-down. Taking into account what NAMA realised on its assets and everything else and the return, what has been the percentage write-down? Is it still approximately 50% in real terms from the original loans?

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: Will the process for the winding up of NAMA start within the next-----

Public Accounts Committee: NAMA Financial Statements 2022 and Special Report 116 of the Comptroller and Auditor General (28 Sep 2023)

Colm Burke: On the properties that NAMA still has, are there any with legal issues attached? One of the problems the banks had when dealing with properties was that legal issues arose that complicated the process.

Public Accounts Committee: 2020 Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 34 - Housing, Local Government and Heritage (17 Feb 2022)

Colm Burke: ...that these are privately owned, but it must be remembered that the local authorities received contributions from the builders. Many of the companies involved in building these houses ended up in NAMA, and, therefore, there is no one that these people can come back at. Another issue is that many of the bonds that were put in place by the builders were not drawn down to assist the local...

Saincheisteanna Tráthúla - Topical Issue Debate: Water Services (16 Feb 2022)

Colm Burke: ...problem that no local authority will take estates in charge where Irish Water has not taken the sewage treatment facilities in charge. There are cases of developments whose builders have gone into NAMA and there is no management company in place. These are housing estates, not apartment blocks. There is no one responsible for the management of sewage treatment. If there is any other...

Saincheisteanna Tráthúla - Topical Issue Debate: Water Services (16 Feb 2022)

Colm Burke: ...to deal with this matter. I am concerned about the stand-alone sewage treatment facilities that were built right across the entire country back between 2000 to 2008. Companies then ended up in NAMA and no one seems to have taken responsibility for the management of these sewage treatment facilities. It came to a head in the past two weeks in Castlewhite, Whitechurch, County Cork. Forty...

Planning and Development (Amendment) (Large-scale Residential Development) Bill 2021 [Seanad]: Second Stage (25 Nov 2021)

Colm Burke: ...demand for housing is because more than 400,000 new jobs were created between 2012 and 2019. We also had the situation of trying to respond to the demand when most of the major builders were in NAMA. There was also a huge issue around access to funding. Previously, builders would get money from banks where they could build 100 houses, but now the same builders are only able to get...

Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)

Colm Burke: When NAMA was selling a portfolio of properties, was it right to put potential residential development in with commercial elements where there was no commitment? The focus may very well have been on the entire package but the real focus was on the commercial element, not the residential element. As a result, was there not a huge delay in progressing the development of residential property?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Colm Burke: ...€7.4 million. For the benefit of the committee, can Mr. McDonagh outline the steps involved in the derogation process and what the values for thresholds are for derogations that require to be approved by the NAMA board? Can he also explain the reason where a service provider had prior and existing knowledge of the debtor and outline what this refers to, please?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Colm Burke: Over the next 12 months to two years, where will NAMA be in that legal situation?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Colm Burke: NAMA’s report, and this is a different issue, refers to €6.3 billion in non-disposable income from inception. Can Mr McDonagh explain this €6.3 billion in non-disposable income please?

Seanad: Order of Business (18 Dec 2013)

Colm Burke: If there are genuine issues and concerns in respect of NAMA, and it appears there are, the appropriate authority to investigate them is the Garda. Any information people receive should be conveyed to the Garda. It is important to bear in mind also that valuations carried out even six months ago are now out of date because the market has changed. I received a telephone call in the last week...

Seanad: Upward Only Rent (Clauses and Reviews) Bill 2013: Second Stage (2 Oct 2013)

Colm Burke: ...132 of which provided that future leases cannot have upward only rents. This was the right decision and the unfortunate problem is that it should have been done a long time ago. In respect of NAMA, it is important to bring information concerning the figures for 2012 to the attention of the House. There were 276 eligible applications for a rent review in which people sought reductions in...

Seanad: Adjournment Matters: Planning Issues (1 May 2013)

Colm Burke: ...issue of Part V compliance. I know of a number of projects that did not comply with Part V when a company went into liquidation. There is a difference between going into liquidation and entering NAMA. In this case Ulster Bank is involved but is not part of the NAMA process. I was concerned to find that the properties are fully occupied. I have sought clarification from the local...

Seanad: Irish Bank Resolution Corporation Bill 2013: Second Stage (6 Feb 2013)

Colm Burke: ...we must have on this issue, because there is public concern that there is a lack of transparency on some issues and about some of the decisions that have been taken, for example, with regard to NAMA. While I am not questioning any of the decisions, there is a need for further clarification. That is just one aspect of the Bill. There are other aspects I would like to discuss but I do not...

Seanad: Unfinished Housing Developments: Statements (13 Jul 2011)

Colm Burke: ...are built are not being made available. In some cases, the parcel of land that was promised to the local authority is mortgaged to a different financial institution that is not involved with NAMA. I referred last week to 160 apartments that have been built. The development is mortgaged with a bank that is not part of the NAMA process. A second lot of property, which should have been...