Results 1-20 of 26 for nama speaker:Matt Carthy

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

Matt Carthy: I thank the witnesses for being here. I will follow up some of the questions asked by Deputy Munster. It was stated that 7,093 residential properties were identified by NAMA that would be of potential use for social housing. What was the total number of residential properties in the portfolio? In other words, what was the number of which the 7,000-odd properties was a portion?

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

Matt Carthy: Considering the crisis we are in now, it appears that such a decision warrants further investigation. Of the 7,000 properties identified by NAMA - and some might argue that this figure is too low - it seems 4,500 were not considered in any great way. It was indicated that 2,629 properties were delivered for social units and that a little under 1,400 were social houses to begin with,...

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

Matt Carthy: Is the witness saying that when Housing for All indicates 1,400 homes will be delivered via NAMA, it is actually pointing to homes already in the social housing stock?

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

Matt Carthy: I have a final and very brief question. Am I right in saying that with the 2,629 units - there may be an additional 100 - NAMA is providing no more social houses?

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

Matt Carthy: No, the Part V element relates to the legislative requirements for developers. I am talking about NAMA providing additional social housing directly to the State.

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

Matt Carthy: I take this opportunity to return to work this committee did following our engagement with NAMA with regard to the Project Nantes loan portfolio, which resulted, according to our findings, in a loss of approximately €10 million to the taxpayer. Following our previous engagements, the NAMA board, essentially, refused to accept the figures or engage with us, and put all this down to a...

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

Matt Carthy: I thank Mr. McDonagh for that. The committee has always acknowledged that the National Asset Management Agency Act was not necessarily breached, but we had indicated we believe NAMA should have done more to investigate the connections between companies managing assets on its behalf and the companies seeking to purchase NAMA loan portfolios. Mr. McDonagh will recall that was a matter of...

Ceathrú Chultúir 1916 Bill 2021: Second Stage [Private Members] (24 Mar 2021)

Matt Carthy: ...enjoyed the connivance of Governments and city councils is shameful. To add insult to injury, when large parts of the property ended up in State ownership via the National Asset Management Agency, NAMA, the State failed to recognise its previous failures and the sites were fire sold to another large British commercial shopping mall chain. The intention is for a large shopping centre to...

Public Accounts Committee: Business of Committee (29 Jan 2021)

Matt Carthy: Is the Chairman saying that this correspondence has already been forwarded to NAMA for response by the previous committee?

Public Accounts Committee: Business of Committee (29 Jan 2021)

Matt Carthy: Before we do that, could I ask that NAMA's response be furnished to the current members of the committee? It might be useful before we make a final decision on it.

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: It is important that, for our own consideration, we would request of NAMA its response to the charge that has been made. We know NAMA has been entrusted with a huge level of portfolios and loans that can be either a force for good or bad in terms of how they are utilised and the circumstances involved. A trade union has made very serious assertions that the actions of NAMA have resulted in...

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: I am sure there are companies involved that will quite happily pass the buck to NAMA and say it is the cause. It is not to say one way or another that this is the fault of NAMA or the company. However, it would be appropriate for NAMA to share with us its initial response and we can then make a determination as to whether there is a role for this committee to examine it further.

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: I propose that we write to NAMA asking it for its response to BATU in this regard.

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)

Matt Carthy: I thank Mr. McDonagh and our other guests from NAMA. I am new to this committee and it is the first time I have dealt with a file of this nature. As such I would like to get "Yes" or "No" answers to my questions for my understanding of the situation with Project Nantes. The witnesses may tell me if I am wrong on any account. The first premise is essentially that NAMA is suggesting the...

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)

Matt Carthy: Avestus is then retained by NAMA to manage Quinlan Private loans but NAMA did not designate it as a NAMA debtor.

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)

Matt Carthy: NAMA did not put any arrangements with Avestus in writing.

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)

Matt Carthy: Then Avestus is privy to the target price that NAMA set out.

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)

Matt Carthy: Am I correct in saying that throughout this process NAMA was unaware that a director in Avestus was also a director in Clairvue?

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)

Matt Carthy: -----the company that was managing on behalf of NAMA but also in the company that eventually purchased the-----

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)

Matt Carthy: ...of this portfolio, the Comptroller and Auditor General has suggested that there was an undervaluation to the tune of approximately €29 million. Then we have a situation where, on the valuation NAMA had placed on the file and very conveniently with the Project Nantes portfolio, Clairvue offers, through a non-competitive process, essentially the gap NAMA needed to fill. A gap that...