Fees and expenses incurred by NAMA are recovered through the operating activities of the agency. They are published in the quarterly reports of NAMA, which are laid before the Houses of the Oireachtas and published on the NAMA website. The second quarterly report for the period ending 30 June 2011, accompanied by financial statements for the second quarter, was submitted to me as required by the end of September 2011 and I will lay the report before each House of the Oireachtas shortly.
The aggregate legal costs for the year 2010 and the first quarter of 2011 are as follows:
|
2010 €m
|
Q1 2011 €m
|
Legal Fees
|
3.31
|
0.88
|
The figures in the table above do not include legal fees incurred by NAMA as part of the loan due diligence process, which are recovered from the five participating institutions through a reduction in the consideration paid for acquired loans.