Dáil Éireann Debate, Wednesday - 22 February 2012
87 Deputy Bernard J. Durkan asked the Minister for Finance the total number of submissions received by the National Asset Management Agency for resolution or settlement in respect of debt or property portfolios; the number of such requests acceded to; and if he will make a statement on the matter. [10274/12]
View answerI am informed by NAMA that either directly or through the participating institution operating on its behalf, it has assessed over 600 of the 790 debtor plans that it expects to receive. These cover 95 per cent of the total acquisition value of NAMA debt. In a majority of cases, NAMA expect that its ongoing discussions with debtors will lead to agreements with debtors on asset disposals and debt repayments and, where applicable, on the reversal of asset transfers to relatives and a securing of charges over unencumbered assets. In a minority of cases where a debtor's business is unviable or where there is a lack of co-operation, it will be necessary for NAMA to enforce against the debtor. Information on the proportion of debtors falling into the respective categories will be available when the debtor business plan review process has been completed.
