Written answers

Tuesday, 15 July 2014

Photo of Stephen DonnellyStephen Donnelly (Wicklow, Independent)
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191. To ask the Minister for Finance to explain the reason three cases initiated at the High Court on 20 December 2013 by the National Asset Management Agency against a person (details supplied) and others were not included in the list of litigation produced in the National Asset Management Agency management report and accounts for quarter four, 2013, which were published in June 2014; if he will confirm the matters these three cases involve; if judgments were secured, the quantum of judgments sought; if any other cases have been omitted, the reason for any omissions; and if he will make a statement on the matter. [31073/14]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that the cases referenced by the Deputy were inadvertently omitted from Q4/2013 s.55 report. NAMA advises that the cases relate to a debtor connection which is managed on NAMA's behalf by a Participating Institution (PI) and where the cases were initiated by that PI, under delegation from NAMA. The detail sought by the Deputy on the cases is set out as follows:

TitleParties to the proceedingsRelief sought by NAMA or NAMA group entity
High Court Record No. 2013/4425S                     MICHAEL BARKER, MARK BUTLER,  EUGENE MCMANEMY,      JOSEPH DELANEY,     EDWARD O'TOOLE,   JOHN KINGSTON AND EDMUND JENNINGS                  Order for Judgement for €19,546,374.65
High Court Record No. 2013/4426S                     MICHAEL BARKER, CONOR O'BRIEN, JOSEPH HANNON, JOHN LENIHAN AND MARTIN FITZPATRICKOrder for Judgement for €1,256.649.16
High Court Record No. 2013/4427S                     MICHAEL BARKER, TOM O'REGAN, DANIEL MCKEOGH AND JOE HYNESOrder for Judgement for €6,750,243.31
I am assured that NAMA has reinforced the mechanisms in place to ensure that all PI-managed legal cases are reported in accordance with the s.55 requirement.

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