Michael McGrath (Cork South Central, Fianna Fail)
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To ask the Minister for Finance the number of court cases that the National Assets Management Agency has taken or plans to take to secure reversal of asset transfers by NAMA debtors which the agency believes were designed to put assets beyond the reach of the agency; if he will provide a statement of value and a breakdown of the type of assets which been returned to the agency thus far including cash, property and so on; and if he will make a statement on the matter. [42511/12]

Michael Noonan (Limerick City, Fine Gael)
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As advised to the Deputy in July (36075/12, 19th July 2012) NAMA is currently pursuing a number of cases in the Courts to effect the reversal of asset transfers by NAMA debtors that appear to have been designed to put the assets beyond the reach of the Agency, including the following cases:

- High Court proceedings for the reversal of an asset transfer of shares

- High Court proceedings for reversal of a family home transfer

- High Court orders sought in aid of execution to reverse the transfer of a family home and holiday home

- English High Court proceedings for the reversal of a property disposal

- US proceedings to set aside various property transactions and full accounting of all assets wrongfully transferred

NAMA advises that proceedings are being considered in a number of other cases. NAMA has to date agreed with certain debtors that the transfer of assets to connected parties be reversed. This has involved 31 debtors with assets worth €160 million.

I am also advised by NAMA that it has been granted charges over previously unencumbered assets with an aggregate value of €354 million, bringing the total value of previously unpledged assets secured through its engagement with debtors to €514 million. Additional details on this are available on page 29 of the NAMA Annual Report and Financial Statements 2011.