Dáil Éireann Debate, Wednesday - 17 September 2014
228. Deputy Michael McGrath asked the Minister for Finance if he will request the National Asset Management Agency to take greater consideration of the nature and long-term plans of investors who purchase loans from the agency; and if he will make a statement on the matter. [33485/14]
View answerThe issue raised by the Deputy is a commercial matter for NAMA. NAMA's policy is to ensure that assets offered for sale are subject to a competitive bidding process with the objective of obtaining the best price available in the market for the ultimate benefit of all Irish taxpayers. NAMA does not give preferential treatment to particular bidders based on their country of origin or on their investment strategy and I fully endorse NAMA's policy in that respect. I do not propose to place NAMA and, by extension, Irish taxpayers, at a competitive disadvantage relative to other deleveraging entities through the imposition of restrictions or curtailments on its ability to recover maximum value for the State through the sale of loans and the property assets securing those loans. Strategies pursued by purchasers after acquisition is a commercial matter for them.
