Results 181-200 of 454 for nama speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: But the question I have specifically is, for example, the 9.5% uplift in NAMA's properties that were secured in the loans ... do we know if that was achieved? Do we know if it was exceeded?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: ...this point, do you have any sense ... because, obviously, while it would be impossible, as you say, to track them because of they're bundled together, do you have any sense, for example, that NAMA's loans could've outperformed the uplift that was expected, given that they were heavily concentrated in the UK market? This suggestion has been made in the public.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: Yes. In relation to, again, evidence that's supplied to the committee here which deals with bankruptcies - it's in Vol. 1, page 6, table 2 - you give us a detail of the number of NAMA-managed debtors, which is 207 debtor connections. And there're 24 connections with at least one bankruptcy. And it's obvious that the majority of them are in the UK. It also states that NAMA is in a...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: ...the 29 borrowers who had a huge amount of lending, but 12 loans was, I think, a bit optimistic. And 60,000 individual properties in security, so that’s the total portfolio of NAMA; would that be-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: ...of the borrowers that you’re in a workout relationship with, is that relationship that they will pay back the original loan that they took out, or will it be the amount that was acquired ... that NAMA paid for the loan?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: So, when NAMA was established and when the five tranches were transferred, NAMA was due, from the borrowers, €74 billion; is that correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: And NAMA expects to repay back €31.8 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: They expect to also, in 2020, pay the State in the region of €1 billion, if things stay on track, and would I be right in extrapolating from that that NAMA intend to write off €41.4 billion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Pearse Doherty: And did that include all of the institutions that are in NAMA, or a number of them? When you say there was correspondence, was that ... was the correspondence to place liquidity deposits in a number of the institutions, a few of the institutions, or all of the Irish institutions?

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

Pearse Doherty: ...a number of months after the guarantee was brought in. Paragraph 26 deals with revising the credit guarantee. It states:A restructuring of the guarantee consistent with the introduction of the NAMA initiative should be seen as an integral element of a comprehensive strategy. In summary, the aim should be to enhance the credibility of the guarantee by simultaneously reducing the...

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

Pearse Doherty: Why does Dr. Bacon suggest that a restructuring of the guarantee consistent with the introduction of the NAMA initiative should be seen as an integral element of a comprehensive strategy?

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Pearse Doherty: Would an auditor have knowledge of the fact there was inadequate loan documentation for some loans? The chief executive of NAMA, the National Asset Management Agency, Mr. Brendan McDonagh, said in 2010: [NAMA’s] our own detailed due diligence on a loan by loan examination has revealed a troubling picture of poor loan documentation, of assets not properly legally secured and of...

Committee of Inquiry into the Banking Crisis: Context Phase (25 Feb 2015)

Pearse Doherty: The questions are specific. We know NAMA paid just shy of €32 billion for these loans. We know €477 million of a write-down was given to NAMA, a large portion of €32 billion, as a result of poor documentation. Is this something an auditor is supposed to pick up? Should an auditor have picked up that €1 out of every €60 of the loans transferred to NAMA...

Committee of Inquiry into the Banking Crisis: Context Phase (11 Feb 2015)

Pearse Doherty: Deputy John Paul Phelan spoke about the funding of ESRI research by Permanent TSB. Did Nationwide UK also fund ongoing research? Did the Irish Banking Federation, NAMA and AIB fund research? If that is the case, what proportion of research is funded by financial institutions? Does Professor FitzGerald believe there could be any suggestion of capture as a result?

Committee of Inquiry into the Banking Crisis: Context Phase (21 Jan 2015)

Pearse Doherty: If we look at NAMA, which again appeared afterwards, we see from reports by NAMA that housing made up less than a fifth of NAMA’s assets. One of my questions relates to the concentration of commercial property, which was the majority of assets that went into NAMA. Only 54% of it was within the Irish State. Could Mr. Regling expand on the role in the crisis played by the credit and...

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

Pearse Doherty: My time will soon expire so I would like to move on. A review was carried out of the options available to NAMA in terms of asset disposals. In regard to the option chosen, is that the one that will bring in the most cash in terms of asset disposal or could another option, such as a delayed disposal, bring in more cash? Contingent issues aside, can Mr. McDonagh confirm if that is the case?

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

Pearse Doherty: I will ask the question again. The independent review which examined a number of options regarding disposal of assets held by NAMA on behalf of the Irish State looked at a number of scenarios. Is the option chosen by the board the one that will bring in the most cash for the State or were there other options open to it that would have brought in more hard cash?

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

Pearse Doherty: I take it from Mr. McDonagh's reply that there is another option, other than the one chosen, that would bring in more money for NAMA but the board has taken the option chosen in conjunction with the section 227 review and the political and other considerations in terms of the national debt and so on.

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

Pearse Doherty: ...is fair enough and a justification for an answer not given. I asked a simple question. It is important that not only Members of the Oireachtas, but the public have an idea of the options open to NAMA. I have not had sight of the independent review. However, it is clear from the answers given that the independent review looked at a number of scenarios, one of which is that NAMA would...

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

Pearse Doherty: I start with the big question people want answered. What is the result of NAMA going to be at the end of the day? NAMA has looked at different options in terms of disposal and had them independently assessed, which I will come to in a minute. I was taken aback by the suggestion that at the end of this process, the profit NAMA will make will be in the region of €500 million. Can the...