Dáil Éireann Debate, Tuesday - 29 January 2019
177. Deputy Michael McGrath asked the Minister for Finance his views on the development that NAMA is involved in regarding the orders to quit for tenants living in an area (details supplied); and if he will make a statement on the matter. [4305/19]
View answerThe Deputy will be aware that NAMA does not own or control property, rather NAMA owns loans for which the properties act as security.
I am advised that the properties concerned are under the control of the court-appointed administrator of a deceased person’s estate and that NAMA is a secured creditor. The Deputy will be aware that one of the primary duties of an administrator is to maximise the value of the assets and discharge the debts of the estate. Neither I, as Minister, nor NAMA, as charge holder, can force a court-appointed administrator to take action which could impede this process, such as prohibiting the sale of estate assets or selling the assets at less than market value.
The Deputy will also be aware that I, as Minister for Finance, have no role in respect of NAMA's commercial operations or decisions. It would not therefore be appropriate for me to comment on this matter.
