Results 1-20 of 123 for nama speaker:Richard Bruton

Leaders' Questions (7 Jul 2015)

Richard Bruton: I thank the Deputy for his question. First, it is important to say that NAMA has a very clear public mandate to deliver best value and in that role it is very actively overseen by the Oireachtas. There is an embedded member of the Comptroller and Auditor General's office working with NAMA, it conducts regular audits and representatives come to the Committee of Public Accounts on a quarterly...

Leaders' Questions (7 Jul 2015)

Richard Bruton: The issue of how NAMA conducted its business is very clear. That has been overseen and supervised by the Committee of Public Accounts and the Comptroller and Auditor General has somebody embedded in NAMA. NAMA's board is appointed by the Oireachtas to get best value and to have this level of Oireachtas oversight. We have a unique level of Oireachtas oversight with respect to this body and...

Leaders' Questions (16 Feb 2017)

Richard Bruton: I thank the Deputy for his question. I was in the House when we established NAMA. One of the aspects that we took considerable care in ensuring was that there could be no possibility of the Minister for Finance of the day interfering in NAMA's commercial activities. I was on the Opposition benches at the time and that was written into the law for good reason, namely, to ensure that NAMA...

Leaders' Questions (7 Jul 2015)

Richard Bruton: These fee arrangements were on the side of the buyer and not the seller of the loans. NAMA was not involved in any way and no payment was made by NAMA in any respect of these fees. That was not the case.

Written Answers — Department of Jobs, Enterprise and Innovation: Upward Only Rent Reviews (14 Feb 2013)

Richard Bruton: ...steps to address the issue where possible. In the Action Plan for Jobs 2012, the Government undertook to place downward pressure on commercial rents where the National Asset Management Agency (NAMA) had acquired the loan on the underlying property. NAMA approves requests for rent easement or abatement from its debtors where a tenant demonstrates that the rent payable under the lease is...

National Asset Management Agency Bill 2009: Report Stage (4 Nov 2009)

Richard Bruton: I move amendment No. 2: In page 16, between lines 35 and 36, to insert the following: "2.---(1) For the purposes of this Act, the "Oireachtas Committee on NAMA" shall mean a Select Committee of each House, or a sub-committee thereof so enjoined and appointed by Resolutions of each such House, established with the purpose of monitoring the implementation of this Act, including all acts done in...

Leaders' Questions (16 Feb 2017)

Richard Bruton: ...no question of the Minister having acted inappropriately. He met a former US Secretary of the Treasury who happened to be an employee of Cerberus. He had no hand, act or part in the decision of NAMA, which is established independently under statute to make decisions on its own. Its decisions and decision-making process are what are under scrutiny, as the Deputy rightly recognised. The...

National Asset Management Agency. (8 Jul 2009)

Richard Bruton: Can I take it from the reply that there will be no political oversight of this process of valuation and execution against the criteria? Can I also take it that NAMA will decide if we nationalise? If it gives a haircut that is more than shareholders' funds, we will nationalise and if it gives a haircut less than shareholders' funds we will not nationalise. That decision has been devolved to...

European Central Bank Lending. (3 Feb 2010)

Richard Bruton: ..., with the result that some could fall out of qualification. Is the Minister confident that Irish banks have sufficient qualifying paper? Second, will Irish Government paper as issued through NAMA qualify at the ECB in all circumstances? Could the downgrading of Irish bonds and the ECB's tighter lending categories ever exclude Irish NAMA paper from being brought to the ECB for liquidity?...

Written Answers — Commercial Rents: Commercial Rents (25 Jan 2012)

Richard Bruton: ...provides a mechanism to deal with disputes on commercial rents and can help to resolve issues at a lower cost, in considerably less time, and in a less adversarial way for the parties concerned. NAMA also has a policy guidance for dealing with tenants' difficulties arising from upward-only rent reviews. This provides an opportunity for NAMA to approve rent reductions where it can be shown...

Written Answers — Company Closures: Company Closures (18 Apr 2012)

Richard Bruton: ...to be paid to landlords. However, in Budget 2012, the Minister for Finance, Mr Michael Noonan TD, gave a commitment that downward pressure will be placed on commercial rents in respect of which NAMA has acquired the loan on the underlying property. NAMA has developed a Guidance Note for dealing with tenants' difficulties arising from upward-only rent reviews in relation to its own...

Leaders' Questions (7 Jul 2015)

Richard Bruton: ...House - often these banks had only a tiny proportion of the real value that was loaned in their books. That was the nature of the crash we experienced. There is no question that one can expect NAMA to realise the full book value of loans that were transferred to NAMA at a substantial haircut. I do not know what the haircut on individual loans was, nor is that a matter of public...

Leaders' Questions (7 Jul 2015)

Richard Bruton: It is not the case, as Deputy Adams seeks to suggest, that NAMA, which is now proceeding to dispose of its assets, has been found wanting in this. NAMA conducted itself in a proper way. It was found to have dealt with this in a proper way. It is answerable to the PAC and is happy to go before the PAC on Thursday to account for its stewardship. That is how this matter should be dealt with....

Order of Business (15 Oct 2009)

Richard Bruton: We will shortly move on to Committee Stage of the NAMA Bill and the Government has stated that it will willingly listen to constructive suggestions from the Opposition. Is the Tánaiste agreeable to having the Comptroller and Auditor General assess the NAMA business plan on behalf of the Oireachtas so that we could have such a report when we are considering the issues concerned on Committee...

Leaders' Questions (7 Jul 2015)

Richard Bruton: ...fee, commission, or other remuneration or payment is payable to any current or former member of the board of the National Asset Management Agency, any current or former member of the executive of NAMA, or any current or former member of an advisory committee of NAMA in connection with any aspect of our participation in the Project Eagle sales process. They got a categorical confirmation...

National Asset Management Agency Bill 2009: Report Stage (Resumed). (4 Nov 2009)

Richard Bruton: ...to underpin its work. It is the old mushroom treatment - keep them knee deep in manure and leave them in the dark. This is what he is offering the Oireachtas in the way it will oversee the NAMA exercise. If Fine Gael makes up a government after the next election, it will establish a NAMA Oireachtas scrutiny committee on a statutory basis so that it can have proper powers and recognise...

Finance Bill 2010: Report Stage (9 Mar 2010)

Richard Bruton: The Taoiseach invited me on the Order of Business to raise with the Minister for Finance the statutory instrument relating to NAMA which the Minister put on today's Order Paper. It appears to be an amended version of what we saw in the Act. It specifies a particular risk discount of 1.7% risk rate discount, which seems an extraordinarily low discount to apply to the flows of income...

Topical Issues Debate: Job Protection (11 Mar 2014)

Richard Bruton: To be fair to NAMA, there is a bit of a misunderstanding of its role. NAMA was supportive of an arrangement that would have facilitated a management buy-out of a company that was insolvent. Implicit in that was an agreement to have some of the debts dealt with to allow the company to continue to proceed. As I understand it, it was not NAMA's fault that it was not possible for this process...

National Asset Management Agency Bill 2009: Second Stage (16 Sep 2009)

Richard Bruton: The Taoiseach is shifting the burden from where it was created to the taxpayer. That is not the correct approach we should adopt. NAMA fails the critical tests of being effective, fair and of involving the least cost. It does not square up to those criteria. Its origins do not start with the needs of enterprises and families. It does not distinguish the important part of banking from the...

Written Answers — Economic Competitiveness: Economic Competitiveness (25 Jan 2012)

Richard Bruton: ...provides a mechanism to deal with disputes on commercial rents and can help to resolve issues at a lower cost, in considerably less time, and in a less adversarial way for the parties concerned. NAMA also has a policy guidance for dealing with tenants' difficulties arising from upward-only rent reviews. This provides an opportunity for NAMA to approve rent reductions where it can be shown...