Clare Daly (Dublin North, Socialist Party)
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Question 97: To ask the Minister for Finance the amount paid to solicitors employed by the National Asset Management Agency; the fee structure; the number of solicitors retained by NAMA and their rate of remuneration. [16393/11]

Michael Noonan (Limerick City, Fine Gael)
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There are 16 solicitors or para-legal staff working in the Legal & Tax division of NAMA. The National Asset Management Agency Act 2009 (Section 42) provides that all officers of NAMA are National Treasury Management Agency (NTMA) employees. The remuneration packages of all NTMA staff are negotiated on an individual contract basis and are confidential.

NAMA has also established panels for the provision of some legal services. A total of 42 Solicitor firms were appointed to an Enforcement and Re-financing Panel for both Ireland and the UK on 29 October 2010. To date 29 firms have been assigned work from this Panel. A total of 64 Solicitor firms were appointed to a Legal Due Diligence Panel on 28 November 2009. To date 18 firms have been assigned work from this Panel. A number of these firms have been appointed to more than one Panel.

As regards fees and remuneration, NAMA informs me that the contractual details of all contracts between the Agency and individual service providers are negotiated on a case by case basis, are commercially sensitive and are confidential. However, the NAMA Quarterly Report for the 4th Quarter of 2010 shows an unaudited aggregate figure of €3.099 million for legal and tax fees in 2010. I also am advised by NAMA that all major contracts awarded by it since its inception have been awarded through www.etenders.gov.ie, the website for Irish public tenders and have been fully compliant with standard public procurement procedures, which require that the most economically advantageous bid be accepted. The names of all successful service providers to NAMA are published on the NAMA website at www.nama.ie/TendersIntro.php .