Written answers

Thursday, 26 March 2015

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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89. To ask the Minister for Finance for the remaining borrowers on the National Asset Management Agency’s book, the number who have personal guarantees attaching to their loans; and if he will make a statement on the matter. [12636/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that of the 178 remaining NAMA-managed debtor connections, which make up 89% of NAMA debt, 146 connections have personal guarantees in place.  The remaining NAMA-managed connections comprise mainly Special Purpose Vehicles (SPVs).

  As regards the debtor connections managed on NAMA's behalf by AIB and Capita, I am advised that there is widespread personal recourse and cross collateralisation across the entire portfolio.

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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90. To ask the Minister for Finance the number of National Asset Management Agency borrowers who have connection management agreements in place; and if he will make a statement on the matter. [12637/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised that NAMA is working on a consensual basis with 70% of its debtors by value.  Consensual strategies include full restructure, partial restructure or connection management agreement (CMA), and support.  Support is the most common consensual strategy requiring debtors to implement agreed milestones in relation to debt reduction without the need for either partial or full restructure.  There are currently four CMAs in place across NAMA's loan book. 

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