Results 401-420 of 1,053,151 for in 'Dáil debates' OR (speaker:Tom Kitt OR speaker:Seán Crowe OR speaker:Pearse Doherty OR speaker:Seán Haughey OR speaker:Heather Humphreys OR speaker:Rose Conway-Walsh) in 'Committee meetings'

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: Let me go onto the legislation. I was responding to a point that has been made numerous times. I am not personalising this because, as I have said numerous times, this is about the profits. All employees from NAMA will go into the NTMA. Is that correct?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: There are senior people in NAMA because they are overseeing a large organisation and are responsible for managing a team. Will they hold their paygrade as they go into a subdivision of the NTMA?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: Is it not a matter for this legislation, where the heads of the Bill state that in respect of all entitlements nobody will be at a loss as a result of the transfer to the NTMA? I think it might be head 19.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: It is. That is why when Mr. Carville says this is a matter for the NTMA, it is not. It is actually a matter for this legislation. What is the pay of the most senior people in NAMA at the minute?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: The chief executive is paid €440,000. I presume there are people at a very senior level who are below that number.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: The legislation states they will go into the NTMA and be seconded into this unit. Some of them are already employed by the NTMA and they may go back to their original roles. They will keep all of their wage structures despite the fact that their responsibilities will change because NAMA is being wound up. Is that correct? Is that what the legislation states?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: If they do not require the person in NAMA who was getting hundreds of thousands of euro, according to this legislation they still have to be paid hundreds of thousands of euro even though the resolution unit may not need their expertise. Is that what the legislation says?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: Are we going to just find a wee corner for them and pay them over in the corner? How does that work?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: I am not talking about the chief executive. I made it very clear - there is an old structure below that. I am not individualising it. I do not even know whether that person is seconded and will go back to another role. I am not making it about any individual.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: The intention is also to wind up the IBRC before the end of the year and transfer whatever remaining assets it has. The intention was to dispose of assets in Russia and Ukraine in 2024. Will Mr. Carville outline those assets for the committee and their value? Eye-watering fees are being charged by the special liquidator to liquidate the IBRC. The taxpayers feel they were taken for a ride...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: It was more about the value of the Ukrainian assets.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: Can we legislate for that? Why do we not put in this legislation that the C and AG should do a special report on the liquidation? I would like to know if the €310 million that has been spent so far on liquidating this entity was actually value for money. Why did the Department not do that? What is to stop us doing it now?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Pearse Doherty: Is the Department open to allowing the Comptroller and Auditor General to do a report on the liquidation costs of the IBRC?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: I will not be long. It is critical, in light of everything that has happened with the waste of people's money and money that could be sent to other places, and we are talking about €321 million by the end of 2024, that the C and AG carry out an investigation into that. Mr. Carville stated that it has done its very best. How do we know it has done its very best, with €321...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: It relates to NAMA.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: The analysis that has been done says this legislation is also expected to have a neutral impact on the economy. Surely, it cannot be true to say that it will have a neutral impact on the economy. Surely, there has to be a correlation between the activities of NAMA and house prices as they are today.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: I did not give a figure. I asked how much has been spent on litigation.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: I want to go back to the destroying of records. A question was asked as to whether, as we speak, those records have been destroyed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: Can we find out for the committee whether they have been destroyed? If they have not been destroyed we need to make sure we have a paper trail and that we have records that can be analysed.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: General Scheme of the Conclusion of IBRC Special Liquidation and Dissolution of NAMA Bill: Department of Finance (18 Sep 2024)

Rose Conway-Walsh: This is not an ordinary liquidation we are speaking about.