Dáil Éireann Debate, Tuesday - 23 April 2013
201. Deputy Pearse Doherty asked the Minister for Finance if he will outline the process by which remaining unsold assets at the Irish Bank Resolution Corporation will be acquired by the National Asset Management Agency, including a description of the way NAMA will value the assets; and if the valuation will be subject to international scrutiny and the anticipated timing of the acquisitions. [18455/13]
View answerAs previously advised, independent third parties are being engaged to independently value the loan assets of IBRC (in Special Liquidation). For the purposes of the valuation, loan assets shall be valued using discounted cash flow analysis, taking into account the timing and reliability of cash flows, together with an appropriate discount factor to determine the value or, where appropriate, in accordance with other standard loan valuation methodologies. There is an obligation on the Special Liquidators to ensure that assets of IBRC are sold at a price that is equal to or in excess of the independent valuations that are being obtained. The Special Liquidators have advised that these valuations will be confidential. Should a bid not be received that is equal to or in excess of the independent valuation obtained, the loan will transfer to NAMA at the independent valuation price. As the Special Liquidators are still in the process of devising and implementing the valuation and sales process it is not possible at this time to estimate the timing of the potential acquisitions.
