Results 181-200 of 7,617 for nama

Written Answers — Department of Public Expenditure and Reform: Legal Costs (7 Jul 2015)

Brendan Howlin: The total of legal fees incurred by the Office of the Commissioner for Environmental Information (OCEI) to date in the case of NAMA v Commissioner for Environmental Information is €97,000.  It is expected that additional fees will be incurred in the coming weeks. The total of all legal fees incurred by the OCEI since its inception to date, including those for the NAMA case, is...

Written Answers — Department of Finance: NAMA Operations (28 Jan 2016)

Michael Noonan: A total of six directions, pursuant to Section 14 of the NAMA Act 2009, have been made to the Agency since its inception. One additional function, pursuant to Section 11(3) of the NAMA Act, has been conferred upon NAMA since inception. All directions and statutory instruments issued under the NAMA Act are laid before each House of the...

Written Answers — National Asset Management Agency: National Asset Management Agency (14 Dec 2011)

Michael Noonan: NAMA informs me that it has met with one interest group and has also been contacted by a local authority regarding this property. This property is listed on the NAMA website as one of the properties subject to enforcement action. I understand from NAMA that the property has been offered for sale on the open market by a receiver, RSM Farrell Grant Sparks, appointed by NAMA. The receiver...

Written Answers — Department of Finance: NAMA Operations (23 Jun 2015)

Michael Noonan: As previously outlined in my response to Dail Question 26 on 7th May 2015, I am advised that the NAMA Chief Executive, in his opening address to the Public Accounts Committee on 18 December 2014, stated that NAMA is aiming to redeem a cumulative 80% (€24 billion) of its Senior Bonds by the end of 2016 and that it hopes that it will have redeemed all of its...

Written Answers — Department of Finance: NAMA Property Sales (3 May 2017)

Michael Noonan: The Deputy will appreciate that NAMA's engagement with its debtors and any decisions it makes arising from that engagement are confidential matters for the NAMA Board in line with its statutory independent mandate. The Deputy will be aware that NAMA owns and sells loans and not property. Separately, assets securing NAMA's loans are owned by the debtor or receiver. As such...

Written Answers — Department of Finance: National Asset Management Agency (3 Nov 2020)

Paschal Donohoe: I wish to advise the Deputy that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that I, as Minister, have no role in relation to its commercial operations or decisions. Nor am I a party to commercial transactions in which NAMA is engaged. I am advised by NAMA that, in relation to the asset concerned, a commercial process remains...

Written Answers — Department of Finance: NAMA Property Construction (20 Oct 2015)

Michael Noonan: I propose to take Questions Nos. 262, 268 and 270 together. Firstly it must be pointed out that NAMA does not own property, and it is not a builder or a developer, nor has NAMA chosen to become one as the Deputy suggests.  NAMA's role in relation to property is, like a bank, that of a secured lender.  As set out in Section 10 of the NAMA Act, NAMA's mandate as a...

Written Answers — National Asset Management Agency: National Asset Management Agency (15 Nov 2011)

Michael Noonan: NAMA has a commercial mandate to obtain the best achievable financial return on behalf of the State. It has emphasised repeatedly that one of its objectives is to instigate the sale of properties by its debtors and in order to facilitate this, it approves the sale of properties by debtors at realistic current market prices. In terms of determining an appropriate current level of pricing for...

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Pearse Doherty: Okay, I want to focus on unenforceable securities. You'd be aware in terms of the NAMA test ... NAMA testimony and what's transcribed from the transfer of known loans to NAMA, hat there were €811 million of loans that were transferred to NAMA across the financial institutions that had unenforceable securities. From AIB's point of view, it made up €164.6 million and that was...

Written Answers — Department of Finance: NAMA Social Housing Provision (16 May 2018)

Paschal Donohoe: It is important to note that assets often referred to as "NAMA land" or "NAMA properties" are not owned by NAMA.  NAMA owns loans.  Such property is owned by private persons who owe money to NAMA ("NAMA debtors") and serves as collateral for those amounts owed. All borrowers have the right to maximise the value of the property which secures his/her loan.  NAMA cannot force a...

Written Answers — Department of Finance: National Asset Management Agency (13 Feb 2024)

Michael McGrath: As the Deputy may be aware, NAMA does not typically own or control properties; rather NAMA owns loans for which properties act as security. The properties securing NAMA’s loans are owned and controlled by their registered owners, or appointed receivers in the case of enforcement, and these parties are responsible for the sale of secured properties. I am advised that NAMA retains a...

Written Answers — Department of Finance: NAMA Operations (20 Mar 2013)

Michael Noonan: As the deputy is aware NAMA has acquired loans and is not the owner or operator of properties. The Agency’s role is that of a secured lender. NAMA appointed a panel of property valuers in 2009 to assist in the valuation of property that was security for loans being acquired and that this process has now concluded. Other than properties that have been enforced, all of which are listed...

Written Answers — Department of Finance: National Asset Management Agency (20 Jan 2022)

Paschal Donohoe: I propose to take Questions Nos. 170 and 171 together. As the Deputy will be aware, NAMA does not typically own or sell properties, rather NAMA owns loans for which properties act as security. Secured properties remain in the ownership and control of their registered owners, or appointed receivers where applicable. These parties are responsible for all matters relating to the management of...

Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach: Dissolution of National Asset Management Agency: Discussion (21 May 2025)

Mairéad Farrell: The committee will now consider the dissolution of the National Asset Management Agency, NAMA. To this end, the committee has invited representatives from the National Treasury Management Agency, NTMA, and NAMA. NAMA was established in 2009 as part of the State’s response to the 2008 banking crisis to deal with property-backed loans acquired from Irish financial institutions. At the...

Written Answers — Department of Finance: NAMA Property Rental (27 Jan 2015)

Michael Noonan: NAMA's Guidance Note on Upwards Only Rent Reviews, which has been in place since December 2011, is available on the NAMA website, , and sets out for tenants both the process involved in making an application for rent abatement through a NAMA debtor or receiver and the financial information that must be submitted alongside such an application.  NAMA can only assess applications submitted...

Written Answers — Department of Finance: NAMA Staff Data (24 Sep 2015)

Michael Noonan: I am advised by NAMA that to date no staff member has left due to redundancy and therefore no payments have been made under the NAMA redundancy programme. As previously advised,  the NAMA Board has projected based on its current strategy that the total number of staff assigned to NAMA will reduce from 342 currently to 291 by the end of this year and to 125 by the end of 2016 subject to...

Written Answers — Department of Finance: NAMA Transactions (5 Jul 2017)

Paschal Donohoe: The Deputy will be aware that Section 9 of the NAMA Act 2009 provides that NAMA is independent in the performance of its functions and that I, as Minister for Finance, have no role in relation to its commercial decisions.  I am advised by NAMA that it is satisfied that it obtained the best achievable financial return from this transaction.  The Deputy will also...

Seanad: Nithe i dtosach suíonna - Commencement Matters: National Asset Management Agency (18 Nov 2021)

Seán Fleming: I thank the Deputy for raising the issue in relation to NAMA, which has been ongoing for a number of years. NAMA was given a difficult job to do when it was established as an independent commercial body with a very specific legal and commercial mandate, which was approved not just by the Dáil and the Seanad, but specifically by the European Commission, in 2010. It is following its...

Written Answers — Department of Finance: National Asset Management Agency (20 Nov 2012)

Michael Noonan: The National Asset Management Agency (NAMA) has no employees. Rather, under Section 42 of the NAMA Act 2009, the National Treasury Management Agency (NTMA) assigns staff to NAMA. I am informed by the NTMA that a company car and health insurance are included in the remuneration package of the NAMA CEO. The value of these benefits (€24,483 in 2011) is published in NAMA’s...

Written Answers — Department of Finance: National Asset Management Agency (11 Dec 2012)

Michael Noonan: I do not intend to go beyond the extensive information that NAMA, based on legal advice, has already made publicly available on this matter. On 27th November, NAMA published, in line with the commitment by the NAMA Chairman at the recent meeting of the Joint Oireachtas Committee on Finance, Public Expenditure and Reform, the detail of a report by its internal auditors, Deloitte, on the...

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