National Asset Management Agency

Dáil Éireann Debate, Tuesday - 3 November 2020

Tuesday, 3 November 2020

Questions (429)

Gerald Nash

Question:

429. Deputy Ged Nash asked the Minister for Finance the reason the deadline for the completion of a deal with NAMA’s preferred bidder for the development of the former Irish Glass Bottle site in Dublin was allowed to lapse; the reason an extension to complete the deal appears to have been granted to the preferred bidder; if the recent addition of a company (details supplied) as a joint-venture partner with another company is the cause for the delay in the completion of the deal; his views on the delay; and if he will make a statement on the matter. [33154/20]

Written answers

Minister for Finance

I wish to advise the Deputy that Section 9 of the NAMA Act provides that NAMA is independent in the performance of its functions and that I, as Minister, have no role in relation to its commercial operations or decisions. Nor am I a party to commercial transactions in which NAMA is engaged.

I am advised by NAMA that, in relation to the asset concerned, a commercial process remains ongoing and the detail of same is commercially sensitive. NAMA confirms that its management of the process is fully in line with its statutory obligation under the NAMA Act to obtain the best achievable financial return for the State.

Question No. 430 answered with Question No. 386.