Results 101-120 of 320 for nama speaker:Michael McGrath

Establishment of a Commission of Inquiry into the National Asset Management Agency: Statements (1 Feb 2017)

Michael McGrath: ...has to be structured in a manner that will give it the best prospect of success. We do not propose that a commission of investigation should go down every rabbit hole and examine every transaction in which NAMA has been involved because it would simply get lost and end up being a bonanza for the legal profession. That is certainly not our position. A commission needs to be focused and...

Written Answers — Department of Finance: NAMA Staff Data (31 Jan 2017)

Michael McGrath: 131. To ask the Minister for Finance the amount which was paid out by NAMA in 2016 in respect of redundancy payments; the number of employees who received payments; the terms of the redundancy payments; and if he will make a statement on the matter. [4152/17]

Written Answers — Department of Finance: NAMA Operations (16 Dec 2016)

Michael McGrath: 121. To ask the Minister for Finance the status of the planned wind-up of NAMA; the details of the portfolio that is remaining; the current estimate of the timeframe and the financial outturn from the wind-up of NAMA; and if he will make a statement on the matter. [40642/16]

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Central Bank (Variable Rate Mortgages) Bill 2016: Central Bank of Ireland (8 Dec 2016)

Michael McGrath: If one carries that over to the SME sector, it opens up all sorts of issues. We have had a lot of loans bought by unregulated funds from NAMA, the IRBC special liquidator and the banks. Those business loans are now owned by funds which will churn them. They will turn them over within a three to five-year horizon. My concern is vulture funds to one extent but this has played out in other...

Finance Bill 2016: Report Stage (Resumed) and Final Stage (23 Nov 2016)

Michael McGrath: ...the corporation tax code that losses can be carried forward and offset against future profits. That is well established in the tax code, about which there is no question. To say the least, the NAMA transfers constituted an exceptional event, in that enormous losses crystalised on the financial statements of the participating financial institutions. The late former Minister, Brian...

Ceisteanna - Questions - Priority Questions: NAMA Operations (29 Sep 2016)

Michael McGrath: ...be investigated. The Comptroller and Auditor General has told the Committee of Public Accounts today that Project Eagle was not a satisfactory sales process. The Minister has told the House that NAMA has up to €40 billion par value of loans that remain to be sold. How can he reassure the House and, more importantly, the Irish people that any further disposals by NAMA will meet...

Ceisteanna - Questions - Priority Questions: NAMA Operations (29 Sep 2016)

Michael McGrath: I accept that it is in the national interest that there be a smooth work out of the remainder of NAMA's assets. I understand the issues around senior debt, contingent liability and all of that. However, we have to be reassured about the integrity of the sales process. Accountability instruments are already built into the system, but they, in the form of the report of the Controller and...

Ceisteanna - Questions - Priority Questions: NAMA Operations (29 Sep 2016)

Michael McGrath: 3. To ask the Minister for Finance the par value of the remaining loan assets on the books of NAMA; if he will outline NAMA's strategy for the disposal of same and provide an update on planned portfolio sales; his plans to strengthen the existing oversight mechanisms for future loan sale transactions or introduce new mechanisms in view of the Comptroller and Auditor General's report on the...

Ceisteanna - Questions - Priority Questions: NAMA Operations (29 Sep 2016)

Michael McGrath: ...Accounts. This is the right decision. The central purpose of my question is to establish whether the Minister wishes to strengthen oversight mechanisms and put new safeguards in place for future NAMA disposals because we are dealing with an extremely serious issue. The Government has agreed to set up a commission of investigation. By admission, that means that there is an issue of...

Written Answers — Department of Finance: NAMA Code of Conduct (16 Sep 2016)

Michael McGrath: 368. To ask the Minister for Finance if he has met with NAMA officials regarding recent revelations around Project Eagle; and if he will make a statement on the matter. [26415/16]

Written Answers — Department of Finance: NAMA Loan Book Value (21 Jul 2016)

Michael McGrath: 115. To ask the Minister for Finance the current book value and estimated market value of the loan assets currently held by NAMA; a breakdown by geographic area, for example, Ireland, the UK and so on; if a decision has been made to accelerate the disposal of the NAMA assets; and if he will make a statement on the matter. [23876/16]

Written Answers — Department of Finance: NAMA Loan Book Value (21 Jul 2016)

Michael McGrath: 123. To ask the Minister for Finance the current status of the planned wind-up of NAMA; the details of the portfolio that is remaining; the estimated timeframe; the financial outturn from the wind-up of NAMA; and if he will make a statement on the matter. [23886/16]

Topical Issue Debate: Schools Site Acquisitions (6 Jul 2016)

Michael McGrath: ...is still no confirmation of a site being bought so that deadline is looming large on the horizon. I hope the Minister can provide some clarity on that issue. I know from communicating with NAMA that a site of over 20 acres in the heart of Douglas is being sold by a receiver appointed by NAMA. I understand that this site is "sale agreed" with the Department of Education and Skills...

Written Answers — Department of Finance: NAMA Operations (5 Jul 2016)

Michael McGrath: 144. To ask the Minister for Finance the position in relation to a State aid complaint made against the National Asset Management Agency (NAMA) to the European Commission; his understanding of the nature of the complaint; the details of NAMA's engagement in the process to date; the role, if any, his Department has played in the preparation of NAMA's response to the complaint; if NAMA or his...

National Asset Management Agency: Motion (Resumed) [Private Members] (30 Jun 2016)

Michael McGrath: ...No. 2:To delete all words after "Dáil Éireann" and substitute the following:"notes that:-- there are ongoing legitimate concerns regarding aspects of the sale by the National Asset Management Agency (NAMA) of the Northern Ireland loan book portfolio, Project Eagle; -- some deeply troubling and extremely serious allegations relating to the sale in Northern Ireland have come into...

National Asset Management Agency: Motion [Private Members] (29 Jun 2016)

Michael McGrath: ...been subject to the ongoing investigations and scrutiny were it not for his interventions and comments in the House and elsewhere. There can be no doubt that the allegations surrounding the sale of NAMA's Northern Ireland loan book are of an extremely serious nature. When public money is at stake, we have a duty to act and protect the public interest. Fianna Fáil has been consistent...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: ...last year, to which the Minister referred, requires a credit servicing firm as an intermediary to be a regulated entity. My concern is that the large portfolios of loans bought by these funds from NAMA, IBRC and departing banks are now going to wash themselves out. They will be sold on, sold on again and sold on again and we will have no idea of who will end up owning the loans. That is...

Ceisteanna - Questions - Priority Questions: Financial Services Regulation (23 Jun 2016)

Michael McGrath: These funds bought large portfolios of loans from NAMA, IBRC and banks departing Ireland. They are now slicing up those portfolios into much smaller parcels of loans and, under existing law, anyone can buy a loan. If one person owns a hotel in Dublin and I own a hotel down the road, I may be in a position to buy that person's loan. To comply with the law, I would have to appoint a credit...

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: ...issues in the private sector, including access to finance and the viability of development projects that are seeking to get under way, still need to be tackled in conjunction with the work that NAMA is doing. Can the Minister confirm his plan for NAMA as it goes forward? It has to conclude its existing mandate under the relevant Act. The Minister has given his approval for NAMA to be...

Other Questions: NAMA Operations (14 Jan 2016)

Michael McGrath: As we move towards the end of the current Dáil, it is timely that the Minister for Finance give the House an update on the work of NAMA. When does the Minister expect NAMA to complete its original mandate given in 2009? What does anticipate the financial outturn to be? Will he formally expand the role of the agency? It is moving towards taking the role of a development agency. When...