Written answers
Thursday, 10 December 2009
Department of Finance
National Asset Management Agency
11:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 73: To ask the Minister for Finance if he will respond to a matter (details supplied) regarding the National Asset Management Agency Act 2009. [46433/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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NAMA's commercial mandate is to obtain the best achievable financial return on the assets acquired by it. I am advised by the interim NAMA management that in a scenario such as outlined NAMA has the ability to give its agreement to security sharing for any additional advances if it makes commercial sense to do so. This is a commercial decision for NAMA and any such decision will depend on contractual terms.
Michael McGrath (Cork South Central, Fianna Fail)
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Question 74: To ask the Minister for Finance if he will respond to a matter (details supplied) regarding the National Asset Management Agency Act 2009. [46434/09]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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NAMA's commercial mandate is to obtain the best achievable financial return on the assets acquired by it. I am advised by the interim NAMA management that in a scenario such as outlined the position will depend on the terms of the security. These are commercial and legal decisions for NAMA and any such decisions will depend on the relevant contracts.
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