Written answers

Thursday, 2 April 2015

Photo of Michael McGrathMichael McGrath (Cork South Central, Fianna Fail)
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81. To ask the Minister for Finance if he will provide an itemised breakdown, in relation to amounts over €100,000 of the €9.9 million in fees paid by the National Asset Management Agency to professional firms under the headings of legal fees and portfolio management fees in 2013; the name of the firm and/or person in question; the amount over €100,000 paid out to each firm and/or person; and if he will make a statement on the matter. [13827/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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A breakdown of the fees sought by the Deputy is set out below.

2013 Legal, advisory and consultancy fees

Legal, consulting and advisory fees as per the published accounts for 2013 and they include invoices paid to suppliers and the movement in expense accruals.  Invoices paid in a year may relate to services incurred in other years.  Invoices for professional services paid in 2013 but which relate to other years are included in the accrual movement.

Legal  Fees €'000Portfolio Management Fees €'000Tax Fees €'000Cross operational organisational project

€'000
TOTAL €'000
Invoices paid 7,1605,3738749913,506
Accrual movement (4,185)17634994(3,566)
TOTAL2,9755,5491,2231939,940

Breakdown of Legal & Portfolio Management suppliers with spend greater than €100k in 2013

The tables below detail invoices actually paid to suppliers during the financial year 2013

Legal invoices

Supplier Name Amount €'000
McCarter & English LLP835
Eversheds O'Donnell Sweeney683
McCann Fitzgerald 634
Allen & Overy LLP571
Arthur Cox311
Beauchamps 309
DLA Piper UK LLP 183
Simmons and Simmons LLP138
Bayern LB113
Graf Von Westphalen110
Ronan Daly Jermyn Solicitors 107
Litigation Payments 1,791
Other Suppliers spend <€100k1,375
Total 7,160

Litigation payments include a payment in relation to the settlement of High Court and Supreme Court costs in Dellway V NAMA, 20% of which was reimbursed in 2014.

Portfolio Management invoices

Supplier Name Amount €'000
Eastdil Secure LLC (Loan sales brokerage fee)1,109
Aon Risk Solutions 774
Steven D. Hutton (Portfolio Management fee)340
Grant Thornton Corporate 293
Salamanca Risk Management 245
Forgo, Damjanovic & Partners Law Firm226
KPMG190
Strook & Strook (Portfolio Management fee)160
Colliers International Dublin124
Other Suppliers spend <€100K1,912
Total 5,373

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