Stephen Donnelly (Wicklow, Independent)
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180. To ask the Minister for Finance further to Parliamentary Question No. 59 of 4 March 2014, the total par value of loans covered by the 33 borrower groups that have or will be offered for sale; the total par value of the loans covered by the 33 borrower groups that have been sold to date; and the total sale proceeds that will be received for the loans sold to date. [17564/14]

Stephen Donnelly (Wicklow, Independent)
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181. To ask the Minister for Finance further to Parliamentary Question No. 59 of 4 March 2014, the total par value of loans covered by the 33 borrower groups that have now been sold to parties who would have been precluded from purchasing the loans; and if section 172 of the National Asset Management Agency Act 2009 had been adopted for the disposal of Irish Bank Resolution Corporation loans. [17565/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 180 and 181 together.

The Special Liquidators are winding up IBRC in accordance with the IBRC Act, 2013 and the Companies Acts, although the IBRC Act has modified or disapplied some provisions of the Companies Acts. I have been advised by the Special Liquidators that the total par value of the Borrower Groups which were offered for sale on a standalone basis is €5.1bn. The sales process for these particular Groups is now complete and it is expected that 4 of the Borrower Groups, with a par value of €0.64bn, will transfer to NAMA. The Special Liquidators will not be providing information as to the sales proceeds received in respect of the loan sales process as this is commercially sensitive information.

Stephen Donnelly (Wicklow, Independent)
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182. To ask the Minister for Finance his views on the amount of revenue foregone to the State, since December 2009, as a result of section 172 of the National Asset Management Agency Act 2009, in view of the recent disposal of €800 million of par value loans, dubbed Project Pebble, by the Irish Bank Resolution Corporation to an entity linked to the borrower. [17566/14]

Stephen Donnelly (Wicklow, Independent)
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183. To ask the Minister for Finance further to Parliamentary Question No. 59 of 4 March 2014, his plans to amend or revoke section 172 of the National Asset Management Agency Act 2009 in view of its discriminatory effect on borrowers with one State organisation, when another State-controlled organisation, namely the Irish Bank Resolution Corporation, is selling loans, at a discount to par values, to parties linked to the borrowers. [17567/14]

Michael Noonan (Limerick City, Fine Gael)
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I propose to take Questions Nos. 182 and 183 together.

Section 172 of the NAMA Act prevents the sale of assets to defaulting debtors. Prospective purchasers of assets controlled by NAMA debtors and receivers are required to sign a declaration under Section 172 confirming that they are not a connected party within the meaning of that section and of the NAMA Board's Guidance Note on the Disposal of Real Estate Assets by NAMA Debtors and Insolvency Office Holders. As this declaration, which has been a requirement since NAMA's establishment, precedes the evaluation and possible approval of any potential bids relating to the sale of assets under the control of NAMA debtors and receivers, there is no basis upon which to estimate the hypothetical impact on NAMA transactions arising from this provision. To date, I understand that NAMA has not encountered any difficulties in selling assets as a result of Section 172. As previously stated, the government does not see the requirement for a change to the legislation at this time.