Dáil Éireann Debate, Thursday - 13 July 2017
184. Deputy Michael McGrath asked the Minister for Finance the number of credible bidders identified by NAMA in each of the off-market loan sales with a total value of €795 million conducted on foot of the agency receiving legal or commercial advice to do so; the number of such loans conducted for this reason since 2014; and if he will make a statement on the matter. [34251/17]
View answerI assume that the Deputy is referring to information originally provided in reply to Parliamentary Question 220 of 21 March 2017. In that reply, information was provided in relation to exceptions approved by NAMA over the period 2014-2016 to its policy of open marketing of loans by NAMA and of assets by its debtors and receivers. Therefore, the figure of €795m in the Deputy’s question refers to both asset and loan disposals.
In particular, reference was made to the first category of exceptions to the open marketing policy, that is, cases where specific written advice (either legal or professional) has been obtained by NAMA recommending that open marketing should not be pursued for commercial or legal reasons. The total number of transactions in this category - which includes both loan and asset disposals - was 126 and the total value was €795m. Given that open marketing was precluded for legal or commercial reasons, the transactions did not involve multiple bidders.
