In the context of the management of close to 800 debtor connections, numerous situations arise where debtors disagree with NAMA as to what may be the best outcome for taxpayers. This is to be expected. Whilst in many cases debtors may believe from their perspective that a certain course of action will achieve a better outcome, NAMA has been charged by the legislature with determining in each instance what course of action will deliver the best outcome for taxpayers. This requires it to take an objective view of both the potential rewards and potential risks attaching to any proposal and be guided by its overall objective which is to achieve the best financial return for taxpayers. NAMA must adopt a rigorous and prudent but commercial approach in relation to the expenditure of public funds and it seeks to ensure that taxpayers are not exposed to unwarranted risks. In making its decisions, NAMA has significant internal financial and project appraisal expertise and it has access, where required, to external advice and validation.
All NAMA decisions are clearly communicated to debtors. All NAMA decisions are documented and signed off by the appropriate NAMA Board-approved delegated authority and are subject to independent review by internal and external auditors. In addition, the NAMA Chairman and CEO have publicly stated on a number of occasions that any debtor with a concern or complaint in relation to their dealings with NAMA should directly contact them. All such queries and complaints are fully investigated by the Chairman and CEO. Ultimately, it is also the case that all debtors have recourse to the courts should they feel that such recourse is required.
