Dáil Éireann Debate, Wednesday - 21 March 2012
80 Deputy Simon Harris asked the Minister for Finance the number of persons employed by the National Asset Management Agency; the number of these individuals paid a salary and the number of individuals paid a fee; the total amount spent on salaries; the total amount spent on fees since the establishment of NAMA; and if he will make a statement on the matter. [15655/12]
View answerNAMA has no employees. All personnel are employed by the NTMA and the salary cost of staff who are engaged in the NAMA business is recharged to NAMA by the NTMA. The number of employees of the NTMA directly engaged as NAMA officers at the end of 2010 was 104 and, as set out in the National Asset Management Annual Report and Financial Statements 2010, which is posted on the NAMA website, www.nama.ie, the total salary cost including pension costs was €9.2 million.
The number of employees of the NTMA directly engaged as NAMA Officers at the end of 2011 was 193. Information on the total salary cost including pension costs is currently being prepared and will be included in the National Asset Management Annual report and Financial Statements 2011, which will be published in mid-2012.
In addition to salary costs during 2010 NAMA incurred fees and related administration expenses of €37m. These expenses include fees paid to service providers including the master and primary servicers, costs re-imbursed to the NTMA, legal fees, financial advisor and consultancy fees, portfolio management fees, board fees, audit fees and other overheads. Further details of these are included in the 2010 Annual Report and Financial Statements. NAMA will provide details of fees paid in 2011 in its 2011 Annual report and Financial Statements, which will be published in mid-2012.
The number of employees of the NTMA directly engaged as NAMA Officers as of 16 March 2012 is 202.
Employees of the NTMA directly engaged as NAMA Officers are remunerated in the form of salaries so the issue of fees does not arise.
81 Deputy Simon Harris asked the Minister for Finance the number of judgments the National Asset Management Agency has obtained through the courts since its establishment; the number of these judgments that have subsequently been enforced; and if he will make a statement on the matter. [15656/12]
View answerI am advised by NAMA that through National Asset Loan Management Limited it has obtained judgment in 10 cases to date that it has initiated as plaintiff since it was established. All are High Court judgments. Judgments have also been obtained by participating institutions in cases which they are managing on NAMA's behalf and in proceedings that issued in the name of the participating institution prior to acquisition of the loans in question by NAMA. Judgments obtained in such cases are enforceable by NAMA as successor to the participating institution in each case. Data on these instances are not readily available to NAMA but they have undertaken to forward the details to me very shortly, at which point I will pass them to you. Enforcement in various forms is being undertaken in all of the above mentioned cases.
82 Deputy Simon Harris asked the Minister for Finance the number of vacancies that currently exist on the board of the National Asset Management Agency; when he intends to fill these vacancies; the criteria which will be applied to filling such a vacancy; and if he will make a statement on the matter. [15657/12]
View answerI appointed Mr John Mulcahy to the Board of NAMA on 7th March, 2012. There is currently one vacancy on the NAMA Board. My Department recently sought expressions of interest for appointment to the NAMA Board and that process closed on 6th March, 2012. A number of expressions of interest were received. Following consideration of these and of other suitable candidates, I intend to appoint an individual to fill that position shortly.
The criteria for appointment to the Board of NAMA are set out in section 19 NAMA Act 2009 and include experience and expertise in a range of professional and academic studies and disciplines.
83 Deputy Simon Harris asked the Minister for Finance if the National Asset Management Agency has undertaken a study of the number of public infrastructure projects such as schools, harbours, roads, council land banks and so on currently impacted on by NAMA administering land which is preventing access to the necessary public sites; if he will provide details of such sites; and if he will make a statement on the matter. [15658/12]
View answerI am advised by NAMA that the scenario put forward by the Deputy i.e. restrictions on access to publicly funded projects through land administered by NAMA, has not been a significant issue for NAMA. I am further advised by NAMA that it has not carried out any specific study on restrictions. However, I am informed that NAMA works constructively with all public bodies in relation to any matter that may relate to or overlap with the public infrastructure development planning processes. Where issues have emerged in a very small number of cases, I understand from NAMA that it has expeditiously resolved those matters.
Should the Deputy have a specific instance in mind, NAMA has assured me that he should raise the matter directly with the agency who will immediately address his concerns in this regard.
84 Deputy Simon Harris asked the Minister for Finance the current status of the National Asset Management Agency’s deferred consideration initiative, a scheme which was first announced by NAMA in May 2011 to effectively provide mortgages which attempt to safeguard buyers from negative equity; if permission for this initiative has been received from the European Commission; his views on this scheme; and if he will make a statement on the matter. [15659/12]
View answerMy Department has had discussions with the European Commission on the deferred mortgage consideration initiative and arising from those discussions NAMA has had discussions with the Competition Authority. I expect the discussions with the European Commission to conclude shortly. I am informed by NAMA that it has completed the preparatory work including identifying pilot properties and it is working towards an early April launch date for the initiative.
