Dáil Éireann Debate, Wednesday - 12 January 2011
216 Deputy Martin Ferris asked the Minister for Finance his views on the reluctance of the National Assets Management Agency to lease property on its books to businesses; and if he will make a statement on the matter. [1355/11]
View answerNAMA has acquired eligible assets from the Participating Institutions, which for the most part, consist of loans. The property or other assets securing these loans remain in the possession of the Debtor. In cases where enforcement action is taken against a Debtor, NAMA may ultimately take ownership of property but it is expected that in the majority of these instances the property will be managed by a receiver. To date, NAMA does not own any such property and therefore the arrangement of leases between NAMA and third parties is not applicable. I am advised by NAMA that as part of the business plan process and ongoing management of the Debtor relationship, NAMA is actively engaging with debtors to get their assets to produce income and is approving decisions relating to the underlying security including lease agreements between the Debtor and third parties where it makes commercial sense to do so. There is no reluctance on the part of NAMA to approve commercially viable arrangements.
