Results 41-60 of 1,732 for nama speaker:Michael Noonan

Written Answers — Department of Finance: NAMA Property Sales (28 Feb 2017)

Michael Noonan: I, as Minister for Finance, do not have a role in tracking the breakdown of ownership of residential development land - either generally or in relation to land sales by NAMA debtors or receivers.  Therefore, it is not possible for me to comment on specific ownership concentrations or lack thereof. I would suggest the Deputy...

Written Answers — Department of Finance: NAMA Loans Sale (28 Feb 2017)

Michael Noonan: ...If the Deputy is unsure of the Government position, I believe I clarified the stance on public record in the Dáil during Statements on the Establishment of a Commission of Investigation into NAMA on 1st February 2017. During those Statements, I reiterated that we have confirmed that there is currently an agreement, in principle, to establish a Commission of...

Written Answers — Department of Finance: Commissions of Investigation (28 Feb 2017)

Michael Noonan: ...in principle that the Government will establish a Commission of Investigation under the Commissions of Investigation Act 2004 to investigate into matters of significant public concern in relation to NAMA. I am advised that the party leaders acknowledged that there will be limitations on the Commission's work given the location of potential witnesses and documentation outside...

Written Answers — Department of Finance: NAMA Debtors (28 Feb 2017)

Michael Noonan: In answering the Deputy's question I would refer the Deputy to the information that is published by NAMA on a quarterly basis as part of its Section 55 report.  This information is laid before the Houses and is available on the NAMA website. Footnote 15 of the NAMA quarterly Report and Accounts sets out a full reconciliation of the movement in NAMA's loans and...

Written Answers — Department of Finance: NAMA Operations (21 Feb 2017)

Michael Noonan: I would like to refer the Deputy to Parliamentary Questions Nos. 122 and 123 of 24 May 2016 which also address these questions. Currently NAMA expects to redeem 100% of its guaranteed senior debt by the end of 2017 and expects to redeem its subordinated debt in March 2020. NAMA will focus on completing its ongoing deleveraging, its Dublin Docklands SDZ and residential...

Written Answers — Department of Finance: NAMA Staff Remuneration (21 Feb 2017)

Michael Noonan: ...2015 Annual Report. The highest individual payment was €20,000. I am also advised that no such performance related payments were made to any staff assigned to the National Asset Management Agency (NAMA) in respect of financial year 2015.

Written Answers — Department of Finance: Public Relations Contracts Expenditure (21 Feb 2017)

Michael Noonan: ...Ireland Strategic Investment Fund (ISIF); - National Development Finance Agency (NDFA); - State Claims Agency (SCA); and - NewERA. It also provides support to the National Asset Management Agency (NAMA). In September 2012 the NTMA, launched a public procurement process and tendered for the provision of these services. Following the tender evaluation process the NTMA awarded a contract to...

Written Answers — Department of Finance: NAMA Assets Sale (21 Feb 2017)

Michael Noonan: I am taking the Deputy's question to refer to the Office of the Comptroller and Auditor General's current review of NAMA as required under Section 226 of the NAMA Act 2009. The Deputy will be aware that the Office of the Comptroller and Auditor General's Section 226 review which "shall assess the extent to which NAMA has made progress toward achieving its...

Written Answers — Department of Finance: Ministerial Meetings (16 Feb 2017)

Michael Noonan: ...the course of my ministerial duties. It is also entirely appropriate that my officials would meet with representatives of firms who have a general investment interest in Irish assets. The Deputy will be aware of the clear legal separation between the Minister for Finance and NAMA's commercial operations. My meeting with former Secretary John Snow and my officials meeting with Cerberus...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: ...be listed for anybody without giving them the right to reply. The meeting I had with Cerberus was not inappropriate in any way whatsoever. The PAC has legal advice saying that the functions of NAMA, the Minister and the Department were entirely different and that I had no legal right or authority to interfere with the commercial decisions of NAMA, and I did not. The minutes of the...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: -----because they were negotiating with NAMA, people look for meetings with me and I meet them. I protect myself and I protect the Administration by making sure there is an accurate note taken and a minute generated. That is all I can do. My diary is the subject of freedom of information so that one can go back in it and say why one met one person or another. I meet them because it is my...

Select Committee on Finance, Public Expenditure and Reform, and Taoiseach: Vote 7 - Office of the Minister for Finance (Revised)
Vote 8 - Office of the Comptroller and Auditor General (Revised)
Vote 9 - Office of the Revenue Commissioners (Revised)
Vote 10 - Tax Appeals Commission (Revised) (15 Feb 2017)

Michael Noonan: The amount of meetings now with people who buy loanbooks is limited. It started very strongly around 2014 and has pretty well worked its way through the system. NAMA has redeemed something like €30 billion worth of the loan notes that it had. In terms of assets the notes are down to about €1.5 billion so its work is nearly complete. I do not know how far up the road the IBRC...

Written Answers — Department of Finance: NAMA Debtors (14 Feb 2017)

Michael Noonan: My reply to Question No. 111 of 25 January 2017 stated that 505 debtor connections with a par debt of €27.3 billion had exited NAMA by end-2016. I am advised that NAMA wrote off a total of €956 million of par debt in respect of these 505 debtor connections, which is less than 4% of the original par debt of €27.248 billion acquired by NAMA relating to...

Written Answers — Department of Finance: NAMA Portfolio (14 Feb 2017)

Michael Noonan: I am advised by NAMA that NAMA held security over a large number of units within the development to which the Deputy refers.  These units were under the management of a receiver appointed by the relevant Participating Institution prior to NAMA's acquisition of the related borrowings. I am further advised that the properties controlled were sold on...

Written Answers — Department of Finance: NAMA Operations (8 Feb 2017)

Michael Noonan: NAMA's tax affairs, and the legal structures it utilises to carry out its mandate, are a matter for NAMA to determine within the perimeter of its mandate and applicable law, including tax law. As we know the establishment of Section 110 companies is completely legal as it is permitted under Irish law and tax codes.As we also know, this House recently moved to change legislation...

Written Answers — Department of Finance: NAMA Assets Sale (7 Feb 2017)

Michael Noonan: The Deputy will be aware that I, as Minister for Finance, have no role in respect of sales by NAMA debtors or receivers or the sale of loans directly by NAMA. As the Deputy will also appreciate, these are matters for the NAMA Board in accordance with its statutory independent commercial mandate. Under Section 12 of the NAMA Act 2009, NAMA may "sell or dispose of the whole or any part...

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: I propose to take Questions Nos. 189 to 192, inclusive, together. NAMA's tax affairs, and the legal structures it utilises to carry out its mandate, are a matter for NAMA to determine within the perimeter of its mandate and applicable law, including tax law.  As we know the establishment of Section 110 companies is completely legal as it is permitted under Irish law and tax codes....

Written Answers — Department of Finance: Tax Code (7 Feb 2017)

Michael Noonan: Having consulted with the eighteen bodies under the aegis of the Department of Finance, I have been advised that in addition to NAMA, the National Treasury Management Agency (NTMA) and IBRC (in Special Liquidation) are the only other bodies which have been using the section 110 tax structure. As controller and manager of the Ireland Strategic Investment Fund,...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: I cannot add to what is in the public domain on NAMA's practice but I am assuming we will get parliamentary questions on it and we will give a more detailed response to them. I do not think we will be able to increase the estimate of tax forgone because I assume that NAMA did not try to change structure or behaviour when the law changed in the Dáil. It just accepted the new legal...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: EU State Aid Rules - Investigation into Preferential Tax Rulings: Minister for Finance and Office of the Revenue Commissioners (2 Feb 2017)

Michael Noonan: .... I would not have access to confidential data. When the Revenue gives me information it does it globally, referring to the sectors rather than individual companies. The reason we know about NAMA is that it published this in the quarterly report. Have we any idea of what was lost? The Revenue has put in a figure of €50 million. That was the advice it gave me to include in the...