Results 161-180 of 767 for nama speaker:Seán Fleming

Public Accounts Committee: Business of Committee (23 Nov 2017)

Seán Fleming: ...year but for some reason they are now only being presented to the Oireachtas, even though the 2011 accounts were certified by the Comptroller and Auditor General in July 2012. We must write to NAMA and the Minister for Finance seeking an explanation as to why these accounts were not laid before the Oireachtas or published before now. I want the people who are watching these proceeding to...

Public Accounts Committee: Business of Committee (23 Nov 2017)

Seán Fleming: That is the question. The Comptroller and Auditor General has audited these accounts every year since 2011 but they were never laid before the Oireachtas. We are writing today to NAMA and to the Minister for Finance asking them to explain why they were not laid before the Oireachtas. I will read one or two sentences from the Minister's reply. The NAMA loans are not on the State balance...

Public Accounts Committee: Business of Committee (23 Nov 2017)

Seán Fleming: No, and this may surprise the Deputy. I asked the amount of funding each of these invested in the NAMA group and how much they will get when NAMA is being wound up, because NAMA will have a surplus. In recent weeks, the Minister would have made a statement that Members asked about paying off the NAMA debts earlier because NAMA has plenty of money in its account and will have a surplus....

Public Accounts Committee: Business of Committee (23 Nov 2017)

Seán Fleming: ...ownership. It is probably a technical point. Perhaps it was coincidental, but I think that parliamentary question, which I submitted around a month ago, prompted the financial statements of the NAMA investment agency investment limited, the holding company for all of NAMA. Even though they had accounts every year since 2011 and they were audited every year by the C&AG, they were...

Public Accounts Committee: Business of Committee (23 Nov 2017)

Seán Fleming: ...on the winding up of the company. When they get all their money back, the €51 million plus the dividend and their final dividend and when that company is dissolved, the surplus of €3.5 million in NAMA can then come to the State. This has to happen first. I say that by way of information. The date that written parliamentary question was answered was 10 October. We will...

Public Accounts Committee: Business of Committee (16 Nov 2017)

Seán Fleming: ...is the sort of reply we want to receive. We want the boards to get their business done in a timely manner. We note that. The next item of correspondence, No. 888, dated 8 November, is from NAMA and is replying to a query of the committee in regard to a hotel in Kinsale. I propose we forward the information to the individual who raised the matter with us. Is that agreed? Agreed. ...

Public Accounts Committee: Business of Committee (19 Oct 2017)

Seán Fleming: ...to the correspondent saying that and note the matter. The next item is No. 816C, dated 16 October, from an individual in relation to the sale of a loan note attached to an hotel in Kinsale by NAMA. The individual questions whether the interests of the State were best served and raises a number of questions. I propose that we write to NAMA for a response to these and we can consider...

Written Answers — Department of Finance: NAMA Operations (10 Oct 2017)

Seán Fleming: 28. To ask the Minister for Finance the persons or organisations that are the 51% owners of the NAMA group; the shareholding of each of these persons and organisations; the amount of dividend paid to each in each year to date since NAMA was established; the expected dividend that will be paid to them between October 2017 and the conclusion of NAMA's activities; the amount of funding each of...

Public Accounts Committee: Business of Committee (5 Oct 2017)

Seán Fleming: ...However, it is not our job to investigate potential criminal matters. We will notify the correspondent of this. Next is No. 771C, correspondence from an individual regarding a property deal relating to NAMA. The individual believes that a sweetheart deal was done and wants to know what we can do about it. The clerk has had other correspondence from the individual. I propose that we...

Public Accounts Committee: Health Information and Quality Authority: Financial Statement 2016 (28 Sep 2017)

Seán Fleming: He was before us with NAMA.

Public Accounts Committee: Business of Committee (21 Sep 2017)

Seán Fleming: ...cannot see how it falls under our remit. We will send it straight to the justice committee. No. 709 is correspondence from a company, Flow East, regarding a meeting of the finance committee with NAMA. The secretary has sent a copy of the transcript of the meeting to the company, as requested. That has been done and we will note that. Correspondence, dated 14 July, has been received...

Public Accounts Committee: Business of Committee (21 Sep 2017)

Seán Fleming: ...opinion. These are noted. The next item is the work programme. Last year, we completed all of the chapters in the Comptroller and Auditor General's report as well as three special reports on NAMA, Templemore - the interim report - and third level. During the summer we lined up a number of meetings for the first few weeks. The Comptroller and Auditor General's annual report will be...

Written Answers — Department of Finance: NAMA Operations (26 Jul 2017)

Seán Fleming: 144. To ask the Minister for Finance the rules in place for the utilisation of the expected surplus that NAMA will transfer to the Exchequer in or before 2020; if there are rules in place requiring this to be offset against the national debt or if it can be used for capital investment or other purposes; if there are specific EUROSTAT rules in place to cover an organisation like NAMA requiring...

Written Answers — Department of Finance: NAMA Operations (26 Jul 2017)

Seán Fleming: 145. To ask the Minister for Finance the planning that has taken place to date regarding the potential use of the expected NAMA surplus which will be transferred to the State, in view of the substantial amount of funding involved; the time taken to prepare for the best use of these funds; if some of it can be used for infrastructure, capital or other purposes, in view of the fact that NAMA...

Public Accounts Committee: Business of Committee (13 Jul 2017)

Seán Fleming: ...to the committee thanking it for its work and its willingness to co-operate and assist him in every way possible. He has indicated that he is obtaining all necessary information he can from NAMA and the Comptroller and Auditor General and that he is coming to the committee requesting to see if we have information that we received from bodies, other than those two sources, to identify and...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: ...to give it to us in simple English. We had far greater restrictions on the use of our funds and our targets when under the excessive deficit procedure. I ask the Department to send us a note. NAMA is heading for a surplus of €4 billion. We need to talk about this. To me, this is a bit like a windfall receipt. In fact, it is not a windfall receipt. It is the working out of...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: 2020. Okay. Everyone pays an annual dividend. Two years ago it was projecting €2 billion, €2.5 billion, €2.6 billion, €3 billion, €3.2 billion and now €4 billion. Given that NAMA is tidying up property loans which contributed to the housing problem and is sitting on what is expected to be a conservative surplus of €3 billion to €4...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: Could this extend the life of NAMA indefinitely if it is going down this new route?

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: What if NAMA completes its task much sooner? It is on target. It was set up with a ten-year term. The Minister encouraged the quick big sales to the vulture funds. We have had special reports on that and a commission is looking at Project Eagle, which was the first big sale. That was all in an effort to get NAMA to wrap up a little sooner. What if it does? It sounds as if the...

Public Accounts Committee: 2015 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2015
Chapter 2 - Government Debt
Chapter 18 - Irish Fiscal Advisory Council
Finance Accounts 2015 (6 Jul 2017)

Seán Fleming: .... Half a dozen semi-State companies have made dividend payments to the State each year. They cannot be guaranteed to be profitable two or three years hence. It is exceptionally conservative that NAMA cannot even pay an interim dividend or an interim payment.