Pearse Doherty (Donegal South West, Sinn Fein)
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206. To ask the Minister for Finance if the National Assets Management Agency avails of the use of public auctions auctioneering services provided by a company (details supplied). [34254/13]

Pearse Doherty (Donegal South West, Sinn Fein)
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208. To ask the Minister for Finance the position on a connected personal relationship between any directors of a company (details supplied) and any property developers whose development and investment properties are under the control the National Assets Management Agency. [34257/13]

Michael Noonan (Limerick City, Fine Gael)
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I proposed to take Questions Nos. 206 and 208 together.

As the Deputy is aware NAMA has acquired loans from the five participating institutions and is not the owner of properties. The Agency’s role is that of a secured lender. The Agency does not directly manage or sell properties securing its loans. In line with NAMA Board guidelines, NAMA requires that the sale of property assets by debtors and receivers is conducted by suitably qualified professional sales agents and that all such sales are openly marketed. I am advised by NAMA that the appropriate sales and marketing strategy for all asset disposals is determined by a range of factors, including asset class, location and the value of the property, and having regard to NAMA’s objectives as set out in section 10 of the NAMA Act. NAMA advises that, by reference to these considerations, its debtors and receivers draw from a large number of suitably qualified sales professionals in the sale of their properties.

As the Deputy is aware, NAMA is prohibited under Sections 99 and 202 of the NAMA Act from disclosing confidential information, including the identity of its debtors and details relating to their properties.