Results 61-80 of 1,732 for nama speaker:Michael Noonan

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

Michael Noonan: ...number of parties have assisted the committee with this work, including senior members of the National Asset Management Agency, in particular its executive team; past and current board members of NAMA; Lazard which was NAMA's financial adviser; Cerberus which was the purchaser of the portfolio; me, as Minister for Finance, and officials from my Department; the former Northern Ireland...

Written Answers — Department of Finance: National Treasury Management Agency Data (31 Jan 2017)

Michael Noonan: ...the number of staff employed by the NTMA in the remuneration categories requested.   Agency* €100-€200k €200-€300k €300-€400k €400-€500k > €500k NTMA 106 11 6 1 0 NAMA 110 5 0 1 0 All NAMA and Strategic Banking Corporation of Ireland (SBCI) staff are employees of the NTMA.  The table...

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

Michael Noonan: The information sought by the Deputy is set out in NAMA's Annual Report and Financial Statements for 2015 on page 103 (Note 10.1 - Staff costs).  I am advised by NAMA that an amount of €3.6m was paid, in respect of 50 members of staff who departed under the Voluntary Redundancy Scheme, in 2016. As set out in response to Dáil Question 116 of 14 January 2016, the...

Written Answers — Department of Finance: NAMA Property Sales (31 Jan 2017)

Michael Noonan: ...fact that providing the identity of specific purchasers would be commercially sensitive, my reply is based on all sales irrespective of purchaser. I am advised that, in its capacity as a secured lender, NAMA has approved the sale of 14,246 residential properties by its debtors and receivers. This includes 4,708 new houses and apartments, which were funded by NAMA, in the three...

Written Answers — Department of Finance: NAMA Property Sales (31 Jan 2017)

Michael Noonan: ..., and due to the fact that identifying properties associated with individual purchasers would be commercially sensitive, my reply is based on all sales irrespective of purchaser. I am advised that NAMA is prohibited by law from disclosing confidential debtor information, including information on assets owned by debtors, without debtors' consent. It is not possible...

Written Answers — Department of Finance: NAMA Property Leases (31 Jan 2017)

Michael Noonan: NAMA does not own property.  Rather, it has acquired loans for which the properties act as security.  Control of the properties rests with debtors and receivers and not with NAMA.  In that regard, I am advised that information is not available on the total number of instances in which NAMA debtors and receivers have sought vacant possession in advance of residential...

Written Answers — Department of Finance: NAMA Property Sales (31 Jan 2017)

Michael Noonan: ...term for purchasers, and due to the fact that providing the identity of specific purchasers would be commercially sensitive, my reply is based on all sales irrespective of purchaser. In addition, NAMA is prohibited by law from disclosing confidential debtor information, including information on assets owned by debtors, without debtors' consent. It is not possible to identify particular...

Written Answers — Department of Finance: NAMA Portfolio (26 Jan 2017)

Michael Noonan: I am advised by NAMA that its debtors and receivers control 14 commercial office properties which are currently vacant. The properties concerned are either on the market for sale or are in the planning system with a view to increasing their ultimate disposal value.  I am advised that two of the 14 office properties have been vacant for less than three months, five have been vacant...

Written Answers — Department of Finance: NAMA Portfolio (26 Jan 2017)

Michael Noonan: As indicated in my reply to Parliamentary Question 90 of 19 January 2017, apart from properties acquired by NARPS, NAMA holds 11 other properties on its balance sheet. I am advised that the majority of these were taken onto NAMA's balance sheet arising from legal and insolvency agreements. Nine of these assets are land and development assets, of which two are located abroad. The...

Written Answers — Department of Finance: NAMA Portfolio (26 Jan 2017)

Michael Noonan: As indicated in my reply to Parliamentary Question 255 of 17 January 2017, NAMA debtors and receivers currently have exposure to 173 residential properties which are temporarily vacant.  The majority of these properties are currently on the market for sale, with many already sale agreed, or are being prepared for sale, are undergoing remediation works, or are between tenancies. ...

Written Answers — Department of Finance: NAMA Debtors (25 Jan 2017)

Michael Noonan: I am interpreting the Deputy's question as requesting the number of NAMA debtors who have exited the agency organised by reference to the amount repaid at the time of exit from NAMA as a percentage of the total par debt owed to NAMA.  In this regard, I am interpreting your reference to "total original loan book value" in the details supplied to the question as the total par...

Written Answers — Department of Finance: NAMA Portfolio Value (19 Jan 2017)

Michael Noonan: The Deputy will be aware that NAMA does not generally own property. Rather it has acquired loans for which the properties act as security. NAMA has been very active in seeking to facilitate the provision of social housing through its portfolio wherever possible. Working in conjunction with the Department of Housing, Planning, Community & Local Government, NAMA offered...

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: Such a direction or legislative change is not necessary as NAMA already plays a significant role in the provision of social housing and housing in general and continuously reviews the assets of every NAMA debtor to establish if properties securing their loans could be utilised for residential development or social housing.   NAMA has an established policy of...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: ...dependence on international support at the time of the crisis, prohibited the State from directly investing in the distressed assets resulting from the crisis.  Exposure to the banks, IBRC and NAMA each became exposures of the taxpayer net liabilities - that had to be reduced for the State to regain financial stability. Interest from the capital...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: In 2016, NAMA sold loans, the debtor for which I understand, owns the units in question in the Strand apartment buildings.  As is NAMA's policy, in order to minimise disruption to tenants, the owner did not seek vacant possession of these apartments in advance of NAMA's sale of his loans.  Furthermore, the sale of...

Written Answers — Department of Finance: NAMA Loans Sale (17 Jan 2017)

Michael Noonan: I propose to take Questions Nos. 52 and 69 together. I appreciate the questions and have considered these issues since the establishment of NAMA.  It is important to understand NAMA and how it is achieving its purposes. One of many important purpose of the NAMA Act is "to contribute to the social and economic development of the State."  The...

Written Answers — Department of Finance: NAMA Operations (17 Jan 2017)

Michael Noonan: As, I have stated on a number of occasions, mostly recently in Parliamentary Question 21 of 10th November 2016, I have no intention of directing NAMA to halt its activities.  To do so would irreparably damage NAMA's positive contribution to our recovery and damage our reputation as a credible, open and transparent market. By extension, any...

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: Let me begin by clarifying that I am taking your use of the words "affordable housing" to refer to housing made available to tenants at below market prices.   Assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA.  NAMA owns loans.  Such property is owned by private persons who owe money to NAMA ("NAMA debtors") and serves as...

Written Answers — Department of Finance: Tax Data (17 Jan 2017)

Michael Noonan: ...section 851A of the Taxes Consolidation Act 1997 under which Revenue is obliged to treat taxpayer information confidentially any information regarding any section 110 company which acquired assets from NAMA cannot be disclosed.

Written Answers — Department of Finance: NAMA Portfolio (17 Jan 2017)

Michael Noonan: The Deputy will appreciate that NAMA does not own or manage properties.  NAMA has acquired loans.  The properties securing those loans continue to be managed by their legal owners or, in the case of enforcement, by duly appointed insolvency practitioners.  Insolvency practitioners such as receivers and administrators act as agents of the original owners of the properties,...