Written answers

Tuesday, 5 November 2013

Department of Finance

NAMA Portfolio Issues

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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217. To ask the Minister for Finance his views on whether it is acceptable that the National Asset Management Agency will make available the names of developers not in NAMA, but will not state who is in NAMA, for the purposes of tenants wishing to establish if their landlords are in NAMA and therefore if they may be eligible for NAMA's assistance in rental contract negotiations. [46896/13]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing details relating to its debtors or their properties. As the Deputy is aware, NAMA operates a specific Guidance Note to facilitate tenants in making an application through their landlord for a reduction in rent on upward-only commercial leases relating to business premises that secure its loans. The Guidance Note is published on NAMA’s website, www.nama.ie. If any tenant considers that his or her landlord is not engaging with them as specified in the Guidance Note, he or she can contact NAMA directly through the email address, info@nama.ie, and NAMA will seek to ensure that appropriate engagement takes place in those cases where the property concerned acts as security for NAMA loans. Clearly, in cases where the property does not secure NAMA loans, NAMA has no role to play and will make that clean to the tenant. NAMA’s record is borne out by its approval to date of rent abatements with an aggregate annual value in excess of €17m, which is enabling small and medium businesses to continue trading and to maintain employment in difficult trading conditions.

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