Dáil Éireann Debate, Wednesday - 10 November 2010
151 Deputy Joe Costello asked the Minister for Finance the reason the National Assets Management Agency has been lending money to developers whose assets were non-performing (details supplied); and if he will make a statement on the matter. [42023/10]
View answerI do not propose to comment on the circumstances of individual debtors. NAMA is currently engaging with the largest debtors whose loans have been acquired from the participating institutions. The draft business plans of these debtors are being subjected to rigorous review and only where a debtor can demonstrate viability will that engagement continue. In a number of cases, NAMA informs me that it will advance funds to enable projects to be brought to completion but this will only be done where it makes commercial sense to do so.
