NAMA Operations

Dáil Éireann Debate, Tuesday - 11 March 2014

Tuesday, 11 March 2014

Questions (101)

Kevin Humphreys

Question:

101. Deputy Kevin Humphreys asked the Minister for Finance further to Parliamentary Questions Nos. 82 of 19 February 2014 and 31 of 4 March 2014, if the land has already been sold by the receiver appointed by the National Asset Management Agency; the reason he cannot reveal the price achieved and underlying loan that was on the property as the overall costs associated with this NAMA transaction have been borne by the public; if he will reveal the price that the National Asset Management Agency realised for the site (details supplied) in Dublin 4 of five acres when it was sold in March 2012 by the receiver; the value of the underlying loan on the property at the time as the site is currently for sale again; and if he will make a statement on the matter. [11977/14]

Oral answers (1 contributions)

Minister for Finance

As advised, this land was sold in 2012 by the appointed Receiver.  This transaction is subject to normal commercial confidentiality between the Receiver, as the vendor, and the purchaser.  NAMA's role as a secured lender does not overreach this commercial confidentiality. In terms of the value of the underlying loan, I would remind the Deputy that NAMA is subject to similar legal requirements as other lenders that preclude it from disclosing financial details relating to its debtors.

Question No. 102 answered with Question No. 77.