Michael McGrath (Cork South Central, Fianna Fail)
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66. To ask the Minister for Finance the amount paid out by the National Asset Management Agency to receivers in 2018, by firm in tabular form; and if he will make a statement on the matter. [9864/19]

Paschal Donohoe (Dublin Central, Fine Gael)
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I am advised by NAMA that receivers appointed to NAMA-secured properties are selected from NAMA's insolvency service provider panel which was established following a competitive public procurement process. I am advised that, arising from this process, very competitive fixed-fee rates were achieved relative to prevailing market norms.

I am advised that, in general, fees are not paid to receivers directly by NAMA but are instead paid out of the proceeds of assets under receivership or the management of these assets, pending realisation. Fees for any particular insolvency are set by reference to the fees quoted by the insolvency practitioner as part of the public procurement process. All appointments are subject to on-going monitoring and evaluation and, in many cases, additional fee reductions are negotiated to ensure that fees are appropriate for the amount of work remaining on any given appointment. Typically fees reduce as the assignment progresses and the number of assets reduces by way of disposals or otherwise. However, this depends on the complexity of the insolvency and the issues that may emerge during its course.

I am advised that, in respect of 2018, a small number of fee payments have yet to be finalised. The table below sets out receiver fees which have been approved to date in respect of the provision of insolvency services for 2018. The figures outlined are provisional and subject to change pending finalisation of fee approvals for 2018.

*Total fees as approved by 25/02/2019