Written answers

Tuesday, 19 May 2015

Photo of Michelle MulherinMichelle Mulherin (Mayo, Fine Gael)
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111. To ask the Minister for Finance the total cost since the establishment of the National Asset Management Agency for advisers, consultants, lawyers, auctioneers and public relations companies; if he will provide details of the top 20 cumulative payments over the years to third party organisations and persons for their services; and if he will make a statement on the matter. [19253/15]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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I am advised by NAMA that the breakdowns of the costs and supplier sought by the Deputy are as set out below.

Total spend on advisers, consultants, lawyers and auctioneers: inception to 2014.

Legal, consulting and advisory fees as per the published accounts for 2010 to 2014 and include invoices paid to suppliers and the movement in expense accruals.

Legal, Consultants and advisory20102011201220132014Total
€'000€'000€'000€'000€'000€'000
ActualActualActualActualActualActual
Portfolio Management fees5,08715,9926,8825,5493,77537,285
Legal fees3,3119,4784,6342,9758,57428,973
Due diligence (further breakdown below)29,60544,5054,086--78,196
Other internal audit fees--288--288
Tax fees4635625311,2237543,533
Cross operational organisational project---19343236
Financial adviser and consultancy fees5,014125519-5,100
Total43,48070,54916,4769,95913,146153,610
Less due diligence costs recovered on loan acquisitions(29,605)(34,505)---(64,110)
13,87536,04416,4769,95913,14689,500
Due diligence breakdown
Legal7,0627,05385--14,200
Loan valuation9,29520,9002,187--32,382
Property4,4197,607513--12,539
Audit8,8298,9451,301--19,075
Total non-recurring due diligence costs29,60544,5054,086--78,196

Note: NAMA do not make any payments to PR firms directly; payments are made by the NTMA and recharged to NAMA via the NTMA General recharge.

Top twenty cumulative payments to suppliers: inception to 2014

Supplier Name20102011201220132014Total
€'000€'000€'000€'000€'000€'000
KPMG7,4779,9714,6151,06745823,588
PriceWaterhouse Coopers8,3304,3411,3707318214,297
Ernst & Young Chartered Accountants1,5216,867113008,501
Alvarez & Marsal Europe Llp2,2144,410482007,106
FTI Consulting Ltd8812,676786004,342
UHY Hacker young Llp6592,0961,155003,909
UBS Limited005003,8503,900
Jones Lang LaSalle Ltd8242,406860004,090
Deloitte & Touche1,4381,4877002,933
Aon Risk Solutions04599347886492,830
Arthur Cox1,0336695683112242,804
McCann Fitzgerald02622736341,4972,667
Hogan Lovells International Llp2,1971,04614408524,239
Eugene F Collins26902721,888252,454
Grant Thornton1231,0291,372567573,146
Allen & Overy Llp92267958352702,711
Donal O'Buchalla & Co Ltd3298732001,204
Dillon Eustace7094285001,141
Smith & Williamson Freaney Ltd1107881650521,115
Eastdil Secured LLC0001,10901,109

Note: Top twenty supplier payments above are the cumulative of all expense types outlined in part one of the response which includes due diligence expenses incurred at the inception of NAMA which were later recovered from the Participating Institutions.

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