Dáil Éireann Debate, Thursday - 26 March 2015
84. Deputy Michelle Mulherin asked the Minister for Finance the amount that has been paid by the National Asset Management Agency in legal and other fees to consultants and advisers for each year from 2010 to 2014 and in 2015 to date; and if he will make a statement on the matter. [12630/15]
View answerA breakdown of the professional fees sought by the Deputy is set out by category of expense for each year from inception to end-2014. The figures for 2015 will be collated and reported in accordance with NAMA's scheduled financial reporting.
|
Legal, Consultants and advisory |
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
|
|
Actual 2010 |
Actual 2011 |
Actual 2012 |
Actual 2013 |
Actual 2014 |
Total |
|
Portfolio Management fees |
5,087 |
15,992 |
6,882 |
5,549 |
3,775 |
37,285 |
|
Legal fees |
3,311 |
9,478 |
4,634 |
2,975 |
8,574 |
28,973 |
|
Due diligence (further breakdown below) |
29,605 |
44,505 |
4,086 |
- |
- |
78,196 |
|
Other internal audit fees |
- |
- |
288 |
- |
- |
288 |
|
Tax fees |
463 |
562 |
531 |
1,223 |
754 |
3,533 |
|
Cross operational organisational project |
- |
- |
- |
193 |
43 |
236 |
|
Total |
38,466 |
70,537 |
16,421 |
9,940 |
13,146 |
148,510 |
|
Less due diligence costs recovered on loan acquisitions* |
-29,605 |
-34,505 |
- |
- |
- |
-64,110 |
|
Due diligence breakdown |
8,861 |
36,032 |
16,421 |
9,940 |
13,146 |
84,400 |
|
Legal |
7,062 |
7,053 |
85 |
- |
- |
14,200 |
|
Loan valuation |
9,295 |
20,900 |
2,187 |
- |
- |
32,382 |
|
Property |
4,419 |
7,607 |
513 |
- |
- |
12,539 |
|
Audit |
8,829 |
8,945 |
1,301 |
- |
- |
19,075 |
|
Total non-recurring due diligence costs |
29,605 |
44,505 |
4,086 |
- |
- |
78,196* |
* The difference between maximum amount recoverable of €64.11m and actual cost of €78.196m was expensed to NAMA's P&L.
