Results 141-160 of 174 for nama speaker:Eoghan Murphy
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: I want to talk about the Aspen deal. NAMA sold a portfolio of loans. It provided the finance for people coming in to buy those loans and invested itself. Is that not a massive exposure for NAMA on one portfolio?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Is that not a double loss for NAMA?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: However, NAMA would not have sold it had it not given the finance to buyers or got involved itself.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: If there was another buyer why did NAMA get involved?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: They only bought it because NAMA got them the finance.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Somebody came to NAMA from the private sector looking to invest in this and NAMA said we will sell it to ourselves for more.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: It is the price NAMA paid because it had the money.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: NAMA sold it to itself though.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: NAMA provided the finance for other people to buy it from NAMA and brought the price to €35 million by getting involved.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: It is not false market, it is a commercial decision by the buyer and NAMA about whether we want to do business. At the start of last year nobody was queueing up to buy assets in the Irish market. Initiatives we are engaged with are bringing activity and investors to the Irish market. No one was queuing up so NAMA decided to queue up for itself.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: ...the witnesses for coming in a second time but it does relate to what I said earlier before the witnesses came in about the committee taking more of a role and spending more time and resources with NAMA. I want to briefly touch on a few things and look at something relating to process. I know there is not much that the delegation can say about IBRC but I want to clarify whether NAMA's...
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Is it envisaged that this will come into NAMA or will a second NAMA be set up?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: So NAMA will work them through those two different special purpose vehicles?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: So IBRC moving across will in a way completely undo NAMA's business strategy?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Can NAMA do that? Can it manage the assets in terms of the asset management phase NAMA is now in - working on the first SPV while then doing all that diligence work on the second?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: That is not the point I am making. I am not referring to any specific court case. I am referring to debtors who are working with the agency, doing their best to help NAMA realise the value of the loans when they were purchased in 2009. Some may do that and receive a salary, which is fair enough if they are the best people to manage the portfolio. They might also realise a profit if they...
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: It is not entirely consistent. The personal insolvency scheme and the NAMA scheme are not necessarily comparable, as I would see it. However, I understand the point Mr. McDonagh is making.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: It is taking the debtors working with NAMA three to five years to work through, is that correct?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: If the bulk of the assets that NAMA has disposed of belonged to people working with the agency, then the ones left will be more difficult to deal with. It will be a harder task for the agency because these people are not willing to comply or work with NAMA.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: When we look to 2020, is Mr. McDonagh anticipating having loans or assets in NAMA but with the bonds all having been repaid?