Pearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance further to Parliamentary Question No. 229 and 230 of 13 November 2012, if he will outline the approach by the National Asset Management Agency in assessing the recoverability of legal fees incurred in pursuit of certain loans and borrowers. [1551/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that costs may be recoverable under the terms of the facility or security documentation and therefore are contractually for the account of the debtor. NAMA further advises that legal costs may also be recoverable because they are made expressly for the account of the debtor in new facility or security documentation or as an express condition of NAMA providing support or forbearance to the debtor. Each debtor is assessed for recoverability of all loan balances biannually, 30th June and 31st December, as part of the impairment exercise.