Written answers
Thursday, 20 February 2014
Department of Finance
IBRC Loans
Seán Kyne (Galway West, Fine Gael)
Link to this: Individually | In context | Oireachtas source
32. To ask the Minister for Finance in view of the fact that the policy of ensuring that persons whose loans or business interests are acquired by the National Asset Management Agency are not eligible to purchase said loans-business interests when sold by NAMA, if he will provide assurances that appropriate procedures, checks and balances are in place to ensure that such persons do not purchase or acquire the same business interests through holding companies or other such indirect means. [8294/14]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
Where NAMA approves the sale of any loan or approves the sale of any secured property by a debtor, it requires a confirmation that the purchaser is not connected to the debtor or other obligers. As part of this process, NAMA requires that the selling agent prepares a final report and recommendation for each sale, which includes, inter alia, confirmation that the agent has reviewed the purchaser s confirmation relating to connected party sales and a statement disclosing any commercial relationship between the agent, debtor, purchaser or purchaser's ultimate beneficial owners in the past five years.
No comments