Pearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context

Question 226: To ask the Minister for Finance following the recent publication of a special report by the Comptroller and Auditor General, the number of connection management agreements the National Asset Management Agency entered into with debtors; and the amount of debt to be forgiven in such agreements. [27956/12]

Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context

I am advised by NAMA that two-thirds of all debtor cases are going forward on a consensual basis, with terms signed in 187 cases. Connection management agreements, to which the Deputy refers, are used only in very specific circumstances where significant restructuring is involved: NAMA advises that, to date, it has signed connection management agreements with two debtors, agreed terms with a further four debtors and is in negotiation with an additional two debtors. The most common form of agreement between NAMA and debtors is a Letter of Support. I am advised by NAMA that debt forgiveness has not formed part of these agreements.