Results 21-40 of 306 for nama speaker:Mick Wallace

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: I raised the issue of the Project Nantes loan sale in this House in May 2017 with the then Minister, Deputy Noonan. He told me that NAMA could not reveal any information on this loan sale under sections 99 and 202 of the NAMA Act. The current Minister refused to answer twice, on the same grounds, but sections 99 and 202 do not apply to the Houses of the Oireachtas, yet the Minister has...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: ..., Olan Cremin, Thomas Dowd and Peter Donnelly, had borrowed heavily during the boom, mainly from Anglo Irish Bank, and owed €489 million when the crash came. The €489 million went across to NAMA and NAMA assembled a portfolio with €352 million of this debt, naming it Project Nantes. The three boys went off to America to find someone to put up the money and found a...

Ceisteanna Eile - Other Questions: NAMA Loans Sale (22 Nov 2018)

Mick Wallace: There is no doubt that the Comptroller and Auditor General is a serious operator and he is a credit to his office, but he has found it very difficult to get information out of NAMA. It was very obvious during the protracted Project Eagle case that NAMA was very reluctant to co-operate with the Comptroller and Auditor General in a fair manner. NAMA is deliberately downplaying the requirement...

Written Answers — Department of Finance: NAMA Assets Sale (22 Nov 2018)

Mick Wallace: ...drawn to the latest progress report by the Comptroller and Auditor General into the National Asset Management Agency; his views on the findings regarding section 172 declarations, particularly that NAMA case managers do not carry out verification processes regarding these; his further views on whether this may have had knock-on effects on loan and property sales; and if he will make a...

Ceisteanna ó Cheannairí - Leaders' Questions (21 Nov 2018)

Mick Wallace: Before the Taoiseach became leader of the country, he spoke a lot about addressing white collar crime but we have not seen much progress on that yet. We recently unearthed another example of NAMA breaking its own rules when, almost like magic, it sold loans belonging to Avestus, with €352 million owed on them, back to their original owners through a shell company in Luxembourg that was...

Dublin (North Inner City) Development Authority Bill 2018: Second Stage [Private Members] (14 Nov 2018)

Mick Wallace: ...management of land that is in the ownership of the State which happens to be located in the area. It smacks of the Land Development Agency. Sadly the horse has bolted on this as a State authority, NAMA, owned the majority of development land in the area. NAMA held an interest in 75% of the 22 ha. located in the docklands, which amounted to 15 sites, the majority of which has been...

Third Interim Report of the Disclosures Tribunal: Statements (17 Oct 2018)

Mick Wallace: ...xed;n O'Sullivan about the five phones she refused to cough up. Maurice McCabe requested a tribunal so that events would be examined in public rather than in private. He was right to do so. Mr. Justice Cooke is investigating NAMA’s sale of Project Eagle. I can only imagine the lies he is being told. Obviously, Mr. Justice Charleton was told buckets of lies too, but it was in...

Resignation of Minister: Statements (11 Oct 2018)

Mick Wallace: ...Minister, Deputy Denis Naughten, for making mistakes and it can also get rid of other Ministers but what changes? How are things being done differently? The National Asset Management Agency, NAMA, has cost more than €20 billion but the Government does not want to know and is prepared to turn a blind eye to it. The malpractice is frightening and the Government does not want to...

Financial Resolutions 2019 - Budget Statement 2019 (9 Oct 2018)

Mick Wallace: ...the Land Development Agency is. The Minister for Finance said today that the Land Development Agency has been established to better co-ordinate State lands for regeneration and development. The agency will be NAMA Mark II. It will co-ordinate State lands all right, but for developers to provide unaffordable housing. There is no sense to that. As the Minister of State, Deputy John...

Housing: Motion [Private Members] (3 Oct 2018)

Mick Wallace: ...know what the Minister knows about the industry but he is not showing a great knowledge of it at present. The Government talks about using the expertise of the National Asset Management Agency, NAMA, in this regard. These are the NAMA boys who sold units in Cherrywood for €27,000, which are now being sold for €120,000. Also, NAMA allowed investors' directors with loans of...

Engagement with Investment Funds: Motion [Private Members] (27 Sep 2018)

Mick Wallace: They have made a fortune at the expense of the Irish people. They bought loans from NAMA for peanuts, paid a bribe to get Project Eagle in the North and we are fine with that. God help us. What will the history books tell us? I hope they detail statements the Government made in this House in its efforts to defend what has taken place. I remember begging Fine Gael and the Labour Party...

Engagement with Investment Funds: Motion [Private Members] (27 Sep 2018)

Mick Wallace: ...Minister for Finance, Deputy Noonan:The Government might view real estate investment trusts, REITs, as a quick fix measure to get rid of properties on the books of the National Asset Management Agency, NAMA, and the banks, but questions must be asked about the increased corporatisation of property, with little financial gain for the State. REITs are not taxed on their rental income as long...

Ceisteanna Eile - Other Questions: Land Development Agency (27 Sep 2018)

Mick Wallace: ...and investors, rather than it being under the control of the Government or builders. That is not the right way to move forward. I am mystified as to how it was decided to appoint a former NAMA chief financial officer as CEO of the LDA. What expertise does he have in residential delivery? We are giving up public land and allowing financiers to speculate on it for profit and...

Confidence in the Minister for Housing, Planning and Local Government: Motion [Private Members] (25 Sep 2018)

Mick Wallace: ...more money than most, I do not for the life of me understand why he has not looked at a different avenue. I pointed out to the Taoiseach today that the Government's Land Development Agency and NAMA's financing of developers and funds is presenting housing at a cost of €100,000 more per unit than would be the case if the Government were providing it. The Minister has no faith in...

Ceisteanna ó Cheannairí - Leaders' Questions (25 Sep 2018)

Mick Wallace: ...described it as radical. It is the opposite of radical. It is not the ESB or Aer Lingus. It promises to be crony capitalism at its finest. This is the National Asset Management Agency, NAMA, mark 2, exactly what we do not need. It is soul destroying that the Government would appoint a former NAMA individual as chief executive officer. That is like getting the fox to mind the...

Home Building Finance Ireland Bill 2018: Instruction to Committee (19 Sep 2018)

Mick Wallace: ...bunnies. However, that is the not the case with developers. The Government talks about engaging developers, but it is not going to small builders who can work for a fair price. Instead, it is going to the big boys, just as NAMA did. The principle on which NAMA has been working for the past four years is not much different from this proposal or that for the Land Development Agency....

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Mick Wallace: ...and it should be using State land for this. Why is all that State land not being put into use? Obviously, I could not let this opportunity pass without mentioning the National Asset Management Agency, NAMA. I promise I will not say anything bold. The Minister of State indicated:While HBFI will be a wholly independent entity from NAMA, it will utilise NAMA's experience in developing its...

Home Building Finance Ireland Bill 2018: Second Stage (Resumed) (5 Jul 2018)

Mick Wallace: ...to get money approved. I do not understand why that is the case. I must get someone to sit down with the Minister of State to discuss that. The Minister of State referred to the expertise in NAMA. I would like him to give me the evidence of the expertise on the board of NAMA around residential development. Where is the background among the members in residential development? I do...

Urban Regeneration and Housing (Amendment) Bill 2018: Second Stage [Private Members] (3 Jul 2018)

Mick Wallace: ...crisis be then? Let us tackle it now. We must. It is the elephant in the room, but the Government does not want to see it and is pretending it is not there. Jesus, it is so attractive to buy these large tracts of land. NAMA sold 3,800 sites in Cherrywood to Hines, a vulture fund, for €27,000 each. Hines then sat on them because it did not have to pay annual tax for doing so....

Written Answers — Department of Housing, Planning, and Local Government: Departmental Agencies Funding (20 Jun 2018)

Mick Wallace: ...discussions with the Minister for Finance regarding Home Building Finance Ireland; the input his Department will have in the State agency; his views on the fact that the agency will be staffed by NAMA employees; and if he will make a statement on the matter. [26822/18]