Results 1-9 of 9 for nama segment:7276086

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: ...meeting, the clerk will circulate wording tomorrow, for consideration next week, regarding our recommendation for a Dáil debate on the winding down of the National Asset Management Agency, NAMA. We agreed last week that there should be a Dáil debate on the issue but we have to table a formal motion, which must be circulated to members for their consideration in advance before it...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: ...in a claim and there is a grievance procedure in this matter which is outlined in section 4 of that briefing note. No. 1711B is from Ms Mary Lawlor, communications and public affairs manager with NAMA, providing further details requested by the committee on Project Nantes. I propose we send a copy of this to Deputy Wallace who raised the matter and on whose suggestion I also raised the...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Catherine Connolly: We are talking about wiggle room and the effort to pursue the €173 million and then we were told it was not a NAMA debtor and so on. We have to go back and look at that but how long will that take to check that, make sense out of it and talk to the people who have raised concerns about it? It is one item of correspondence. What the Chair has put on the record is important but it is...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: We will write back to NAMA arising from that letter to say that it has established that the person identified as a director of the purchaser entity was not a NAMA debtor. We will write back straight up asking if there was any connection between that person and a NAMA debtor. Maybe that person was not a NAMA debtor but we want to know if there was any connection and NAMA should know that and...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Catherine Connolly: Not alone should NAMA know that but it has a duty to explain to us. We are not here to go through something minutely to try to find details. The onus is on every organisation that comes in here to disclose to us that everything has been done properly. It is being pushed the other way.

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: NAMA does say in the last paragraph that it is constrained by the legislation from disclosing details. However, what we are asking is not an unreasonable question. The Deputy is right. We could have just noted and published it and moved on. Serious issues are raised and people feel that we should follow matters through and of course we do so we will go back and ask for further...

Public Accounts Committee: Business of Committee (15 Nov 2018)

Mr. Seamus McCarthy: We raised that in the second section 226 report which the Chair already discussed with NAMA. We said that it was a concern that it was taking assurances at face value. The same discussion can be had with Revenue. That creates a significant declaration and it is a legally important declaration. It is a control process that is not insignificant but verification or...

Public Accounts Committee: Business of Committee (15 Nov 2018)

...in subsection (2) prevents the disclosure of information ... in the course of giving evidence before a House of the Oireachtas or a Committee of either or both such Houses". There is an onus on NAMA to present information and to provide the assurances to which Deputy Connolly referred.

Public Accounts Committee: Business of Committee (15 Nov 2018)

Seán Fleming: We will ensure that NAMA is made aware of that point in our reply. We are not legal experts. We cannot be expected to know the subsections of section 202. I thank Mr. McCarthy for highlighting it. How could we be expected to know the full details of that? We will revert to NAMA on that basis. We will note and publish the correspondence but will follow up on it. Next is No. 1714 B...