Michael McGrath (Cork South Central, Fianna Fail)
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200. To ask the Minister for Finance the number of developers currently in receipt of a salary from the National Assets Management Agency; the number who have received an increased in salary since their contact with NAMA was initiated; and if he will make a statement on the matter. [39566/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that it does not pay a salary to any debtor. NAMA seeks to ensure that income generated by assets securing NAMA loans is applied towards repaying a debtor’s indebtedness to NAMA. However as part of the debtor business plan, debtors retain an agreed portion of this income to cover business overheads. In certain circumstances, debtors are allowed a salary out of business overheads where this is necessary to manage and preserve the value of the assets securing NAMA’s loans. NAMA advises that all overheads are reviewed as part of its regular review of each debtor’s performance. NAMA advises that it has not agreed in any case to an increase in the salary retained by debtors from business overheads. NAMA further advises that debtor performance reviews include consideration of developments in the wider economy and that debtors are not immune to these wider considerations.