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NAMA Court Cases

Dáil Éireann Debate, Wednesday - 18 December 2013

Wednesday, 18 December 2013

Questions (72)

Michael McGrath

Question:

72. Deputy Michael McGrath asked the Minister for Finance the number of court cases that the National Asset Management Agency has taken or plans to take to secure reversal of asset transfers by NAMA debtors which the agency believes were designed to put assets beyond the reach of the agency; if he will provide a breakdown of the type of assets which have been returned to the agency thus far including cash, property and so on; and if he will make a statement on the matter. [54560/13]

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Written answers

I am advised by NAMA that since inception it has obtained additional security for its loans with a total value in excess of €800 million. This has been achieved through the reversal of asset transfers, including reversals that resulted from court action initiated by NAMA, and through the acquisition of charges obtained over previously unencumbered assets. Further detail on this process is set out in NAMA’s Annual Report and Financial Statements for 2012, which is available on the Agency’s website, www.nama.ie. I am satisfied that €800m in additional security represents a significant further protection for the Irish taxpayer and underlines the determination with which NAMA has approached this area of its work.

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