Dáil Éireann Debate, Thursday - 26 March 2015
88. Deputy Michael McGrath asked the Minister for Finance the number of borrowers who have entered arrangements with the National Asset Management Agency that will allow them to reduce their personal exposure on company borrowings if they meet agreed targets; and if he will make a statement on the matter. [12635/15]
View answerAs set out in detail in NAMA's 2010 Annual Report, the outcome of the review of some debtor business plans included possible incentivisation arrangements which would only be triggered if the debtors met very ambitious or 'stretch' financial targets which were set for them. Such arrangements include amendment to or release of personal guarantees where maximum value has been extracted from the workout and realisation of debtor assets and therefore better-than-expected financial outcomes are achieved on behalf of the State. I am advised by NAMA that, in this context, it has approved amendments to or the release of personal guarantees in the case of 33 debtors which will only be triggered where a debtor meets the stretch financial targets which have been set for him/her.
