Dáil Éireann Debate, Tuesday - 7 February 2017
155. Deputy Catherine Murphy asked the Minister for Finance the reason joint receivers and NAMA agreed to dispose of a CIÉ site to a person (details supplied) that was connected to NAMA under the section 172(3) of the NAMA Act 2009; and if he will make a statement on the matter. [5928/17]
View answerThe Deputy will be aware that I, as Minister for Finance, have no role in respect of sales by NAMA debtors or receivers or the sale of loans directly by NAMA. As the Deputy will also appreciate, these are matters for the NAMA Board in accordance with its statutory independent commercial mandate. Under Section 12 of the NAMA Act 2009, NAMA may "sell or dispose of the whole or any part of the property or investments of NAMA, either together or in portions, for such consideration and on such terms as the Board thinks fit". I am advised, by NAMA, that the transaction to which the Deputy refers involved the sale of development rights by the joint receivers, that it was openly marketed and that it also required the approval of the CIÉ Board which holds the freehold interest in the asset concerned. I am further advised that the transaction met with the requirements of Section 172(3) of the NAMA Act.
