Dáil Éireann Debate, Tuesday - 17 June 2014
196. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent announcement by the National Asset Management Agency of its decision to sell its entire portfolio of loans linked to Northern Irish borrowers, if he will confirm if the sale has been concluded; and if he will outline the legacy connection the National Asset Management Agency has with Northern Ireland. [26059/14]
View answer197. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent announcement by the National Asset Management Agency of its decision to sell its entire portfolio of loans linked to Northern Irish borrowers, what will happen to properties, particularly those listed in the enforced property section of NAMA's website, to which NAMA has had receivers or similar appointed. [26060/14]
View answer198. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent announcement by the National Asset Management Agency of its decision to sell its entire portfolio of loans linked to Northern Irish borrowers, what will happen to developments in which NAMA has previously announced and-or provided investment. [26061/14]
View answer199. Deputy Stephen S. Donnelly asked the Minister for Finance further to the recent announcement by the National Asset Management Agency of its decision to sell its entire portfolio of loans linked to Northern Irish borrowers, the position with ongoing litigation with Northern Irish borrowers where NAMA is a party to that litigation; and if he will make a statement on the matter. [26062/14]
View answerI propose to take Questions Nos. 196 to 199, inclusive, together.
I am advised that the sale by NAMA of the Project Eagle portfolio of loans to affiliates of Cerberus Capital Management, L.P. has not yet completed and remains subject to contract. Following the completion of this transaction, NAMA will have a relatively minor exposure as a secured lender to property assets in Northern Ireland, comprising mainly assets owned by debtors from the Republic of Ireland and Britain. As with all NAMA loan sales, decisions relating to loans in the Project Eagle portfolio, including decisions in respect of the underlying collateral held by a debtor or receiver and any associated cases taken by NAMA, are expected to become matters for the new loan note holder. All matters relating to the portfolio of loans, including those set out in the Deputy's questions, are being discussed as part of the closing process and it would be inappropriate for me to comment further at this time.
