I propose to take Questions Nos. 127 and 169 together.
I am advised by NAMA that it has instigated proceedings for the recovery of debt against a number of NAMA debtors, including the initiation of actions for the reversal of asset transfers, actions arising from bankruptcy proceedings and high value repossessions, and that there are currently 33 such proceedings on-going. The Deputy may wish to refer to the NAMA Annual Report and Financial Statements for 2012, which is available on NAMA’s website, www.NAMA.ie. Pages 25-26 of the 2012 Report contain detail on the value and type of additional assets over which the Agency has obtained security, including the reversal of recent asset transfers to relatives and others, and the processes by which the Agency has obtained this security.
Details of NAMA’s legal panels, from which the Agency procures legal services, are available on the NAMA website, www.nama.ie. In addition, the Deputy may wish to refer to my response to a recent Parliamentary Question 274 of the 26th of April 2013, in which I provided details of the legal fees incurred by NAMA to end-2012.
NAMA’s projected budget for 2013, including projected legal costs, is set out in the Agency’s Section 53 Annual Statement for 2013, which is also available on the NAMA website, www.nama.ie.