Dáil Éireann Debate, Wednesday - 13 February 2013
51. Deputy Pearse Doherty asked the Minister for Finance further to the announcement by the National Asset Management Agency on 7 February 2013, if NAMA will bid for loan assets and associated collateral being disposed of by the special liquidator between now and mid-2013 when NAMA is to bid for any remaining loans. [7718/13]
View answerIn accordance with Section 13(a) & (b) of the IBRC Act 2013 the Minister may direct NAMA in writing to bid for or acquire IBRC assets. NAMA has been directed to establish a special purpose vehicle to acquire the floating charge over certain IBRC assets. After the sales process conducted by the Special Liquidator has been completed NAMA is expected to acquire the unsold loans in the IBRC loan portfolio in addition to the proceeds of any assets sales conducted by the Special Liquidator during the sales process.
