Seanad debates

Thursday, 26 January 2012

Banking Sector Regulation

 

1:00 pm

Photo of Brian HayesBrian Hayes (Dublin South West, Fine Gael)

Also with respect, as I pointed out in my contribution, this matter is sub-judice. The Senator is well aware - or if not, she should be - of the clear constitutional barriers that exist between the courts of this land and the decisions of this or the other House. With regard to NAMA, to which these dubious assets have been transferred - an agency, I hasten to add, that was established by the Senator's own party - we have a responsibility, in the first instance, to maximise the amounts of money returned to the State. While I appreciate the Senator's concerns about this case - concerns that are equally borne by the Government - we must deal with this in a way that stands the test of legal challenge. I do not believe she should automatically assume, in this or other cases, that NAMA is not pursuing this matter in the way in which it normally does its business, namely, appointing persons who normally act in cases of insolvency and then trying to maximise the amount of money reclaimed from debtors.

I will transmit to my colleague the Minister for the Environment, Community and Local Government the Senator's views that he should meet with the group concerned. I give her my word that I will say that to him.

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