Dáil Éireann Debate, Tuesday - 16 April 2013
274. Deputy Pearse Doherty asked the Minister for Finance further to Parliamentary Question No. 230 of 13 November 2012, if he will provide a breakdown of the legal fees paid by the National Asset Management Agency for 2012, and to date in 2013, including the amount each recipient received from NAMA. [16534/13]
Amharc ar fhreagraA breakdown of legal fees paid by NAMA in 2012 is set out below. I am advised by NAMA that information on the breakdown of legal fees in 2013 will be published on its website, www.nama.ie, alongside publication of its Section 55 Quarterly Reports and Accounts for each quarter during 2013. Legal fees paid by NAMA in 2012 amount to €3.28 million in relation to the management of its acquired portfolio of loans.
NAMA has paid further legal fees of €18.4 million which are recoverable as outlined below:
- €0.68 million in legal due diligence expenses in connection with the acquisition of residual loans being acquired from the Participating Institutions.
- €17.7 million in borrower recoverable costs (principally legal fees) which NAMA has incurred on behalf of NAMA borrowers. Such costs have been taken as an impairment charge as necessary in NAMA's financial statements.
The breakdown of the 2012 fees by recipient is provided below. The amounts paid include VAT.
1. 2012 Legal Costs
|
Legal |
2012 €'000 |
|
Arthur Cox |
473 |
|
Matheson Ormsby Prentice |
403 |
|
Simmons & Simmons |
320 |
|
A&L Goodbody Solicitors |
301 |
|
McCann Fitzgerald |
273 |
|
Eugene F Collins |
272 |
|
Paul Sreenan |
169 |
|
Cian Ferriter |
129 |
|
Byrne Wallace |
116 |
|
Maples And Calder |
60 |
|
Eversheds O'Donnell Sweeney |
48 |
|
Allen & Overy |
46 |
|
Parker, Hudson, Rainer & Dobbs |
46 |
|
Olswang |
44 |
|
Linklaters |
44 |
|
Arthur Cox Northern Ireland |
38 |
|
Private Security (Ireland) Limited |
34 |
|
Beauchamps Solicitors |
34 |
|
Vieira De Almeida & Associados |
32 |
|
Mary Fay BL |
28 |
|
Hayes Solicitors |
25 |
|
LK Shields Solicitors |
24 |
|
Ciaran Lewis |
21 |
|
Hibernian Legal International Ltd |
19 |
|
James Doherty BL |
19 |
|
Taylor Wessing LLP |
19 |
|
Quarles & Brady LLP |
18 |
|
Nathy Dunleavy |
18 |
|
Garrigues |
17 |
|
Owen Hickey Senior Counsel |
17 |
|
Elvinger, Hoss & Prussen |
14 |
|
Knight Frank (Dublin) |
12 |
|
Ogier |
12 |
|
Tods Murray |
10 |
|
William Abrahamson, BL |
10 |
|
Malone O Regan Environmental Services Ltd |
10 |
|
Tughans Solicitors |
8 |
|
Mc Dowell Purcell Solicitors |
8 |
|
Simmons & Simmons Llp (Amsterdam) |
7 |
|
William Fry Solicitors |
7 |
|
Vision Net |
6 |
|
A & L Goodbody Northern Ireland |
6 |
|
J.W. ODonovan Solicitors |
6 |
|
Shook Lin & Bok Llp |
6 |
|
McGill Planning Ltd |
6 |
|
Sanderson Weatherall Llp |
5 |
|
Wragge & Co |
5 |
|
Barry C. Galvin & Son Solicitors |
5 |
|
Carey Olsen |
3 |
|
Miley & Miley Solicitors |
3 |
|
ICSA Software International |
3 |
|
Appleby (St Helier- Jersey) |
3 |
|
Snr Denton Uk Llp |
2 |
|
John Redmond |
2 |
|
DLA Piper UK |
2 |
|
Burges Salmon Llp |
2 |
|
Taylor Wessing (Paris) |
2 |
|
Hogan Lovells International Llp |
1 |
|
Walsh Associates |
1 |
|
Garcia-Torrent & Garcia Cueto |
1 |
|
Appleby (Isle Of Man) |
1 |
|
DLA Piper UK LLP (Germany) |
1 |
|
Cassels Brock & Blackwell Llp |
1 |
|
Marston Book Services Ltd |
1 |
|
3,279 |
2. 2012 Legal Due Diligence Costs – Recoverable from Participation Institutions
Legal due diligence costs are costs that NAMA has incurred in connection with acquiring the portfolio of loans from the Participating Institutions. Legal due diligence costs are recovered from the Participating Institutions through a reduction in the acquisition value.
|
Due Diligence |
2012 €'000 |
|
Hogan Lovells International Llp |
144 |
|
Arthur Cox |
96 |
|
Arthur Cox Northern Ireland |
91 |
|
Beauchamps Solicitors |
77 |
|
Andrew Crean-Lynch Solicitors |
64 |
|
Matheson Ormsby Prentice |
63 |
|
Mason Hayes + Curran |
34 |
|
A&L Goodbody Solicitors |
28 |
|
McCann Fitzgerald |
26 |
|
Eversheds O'Donnell Sweeney |
20 |
|
Snr Denton Uk Llp |
15 |
|
Allen & Overy Llp |
12 |
|
Gore & Grimes Solicitors |
7 |
|
Dillon Eustace |
5 |
|
Byrne Wallace |
2 |
|
684 |
3. 2012 Borrower Recoverable Costs
Borrower recoverable costs are principally legal fees which NAMA has incurred on behalf of NAMA borrowers. Where the borrower is in a position to repay such costs NAMA will seek the repayment in cash. To the extent the borrower is not in a position to repay those costs, NAMA will add these costs to the borrower's debt obligations to NAMA. Such costs have been taken as an impairment charge as necessary in NAMA's financial statements.
|
Borrower Recoverable |
2012 €'000 |
|
McCann Fitzgerald |
1,708 |
|
William Fry Solicitors |
1,239 |
|
A&L Goodbody Solicitors |
1,166 |
|
Hogan Lovells International |
1,142 |
|
Eversheds O'Donnell Sweeney |
1,117 |
|
DLA Piper UK |
1,019 |
|
Arthur Cox |
832 |
|
Byrne Wallace |
596 |
|
Maples And Calder |
563 |
|
Simmons & Simmons |
520 |
|
Taylor Wessing |
446 |
|
Wragge & Co |
437 |
|
Ronan Daly Jermyn Solicitors |
414 |
|
Beauchamps Solicitors |
401 |
|
Servulo & Associados |
393 |
|
Gartlan Furey Solicitors |
382 |
|
Hayes Solicitors |
279 |
|
Stroock & Stroock & Lavan |
275 |
|
Whitney Moore Solicitors |
260 |
|
Cian Ferriter |
246 |
|
Paul Sreenan |
227 |
|
Quarles & Brady |
222 |
|
McCarter & English |
221 |
|
Matheson Ormsby Prentice |
196 |
|
Gordons Commercial Solicitors |
190 |
|
Lavelle Coleman Solicitors |
178 |
|
K & L Gates |
167 |
|
Addleshaw Goddard |
131 |
|
DLA Piper (Paris) |
125 |
|
Alfred Thornton & Company |
112 |
|
Eversheds |
109 |
|
Snr Denton Uk |
108 |
|
Altana |
98 |
|
Taylor Wessing (Paris) |
98 |
|
Appleby (Isle Of Man) |
91 |
|
Mc Dowell Purcell Solicitors |
83 |
|
Allen & Overy |
80 |
|
Mason Hayes + Curran |
80 |
|
A & L Goodbody Northern Ireland |
76 |
|
Cassels Brock & Blackwell |
72 |
|
John McKee & Son Solicitors |
72 |
|
Arthur Cox Northern Ireland |
72 |
|
Bedell Cristin |
64 |
|
Tughans Solicitors |
63 |
|
Cms Cameron Mckenna |
60 |
|
Windels Marx Lane & Mittendorf |
58 |
|
Graf Von Westphalen |
57 |
|
Ogier |
39 |
|
G O Nuallain & Co |
38 |
|
Wildgen |
38 |
|
Taylor Wessing (Munchen) |
37 |
|
DLA Piper UK (Manchester) |
36 |
|
Barry C. Galvin & Son Solicitors |
35 |
|
EC Harris Built Asset Consultancy |
32 |
|
Elvinger, Hoss & Prussen |
28 |
|
Mark Sanfey |
26 |
|
Appleby (British Virgin Islands) |
25 |
|
Michael McDowell S.C |
22 |
|
Allen & Gledhill |
22 |
|
Taylor Wessing (Hamburg) |
21 |
|
James Doherty BL |
20 |
|
Andrew Fitzpatrick BL |
19 |
|
John Breslin BL |
19 |
|
Eoin Mccullough |
19 |
|
Deacy Gilligan Ltd. |
19 |
|
Eugene F Collins |
18 |
|
Landwell Pricewaterhousecoopers Tax&Legal Services |
18 |
|
Herbert Smith Paris |
18 |
|
Herrick Feinstein |
17 |
|
Rossa Fanning BL |
16 |
|
Carey Olsen |
15 |
|
Herbert Smith |
15 |
|
P.J. O Driscoll & Sons |
15 |
|
Jarlath Ryan |
15 |
|
J.W. ODonovan Solicitors |
15 |
|
Robert Fitzpatrick BL |
14 |
|
DLA Piper UK Llp (Germany) |
14 |
|
Allen & Overy (Aisa) Pte Ltd |
14 |
|
Control Solutions |
14 |
|
Boyanov & Co |
13 |
|
IFM Trust Limited |
13 |
|
Garcia-Torrent & Garcia Cueto |
13 |
|
A.C. Forde & Co Solicitors |
13 |
|
JLT Ireland |
13 |
|
Peden & Reid Solicitors |
12 |
|
O'Flynn Exhams Solicitors |
12 |
|
Arendt & Medernach |
12 |
|
DWF |
12 |
|
LK Shields Solicitors |
12 |
|
Carson Mcdowell |
11 |
|
Orpen Franks Solicitors |
10 |
|
Camilleri Preziosi |
10 |
|
Mckenna Durkan Solicitors |
10 |
|
Olswang Llp |
10 |
|
Cains |
10 |
|
JPA Brenson Lawlor Limited |
9 |
|
Clifford Chance |
9 |
|
Wierzbowski Eversheds |
9 |
|
Lopez Balina - Miras S.C.P. |
9 |
|
Karole Cuddihy BL |
9 |
|
Cort & Cort |
9 |
|
Uria Menedez |
8 |
|
Aon Risk Solutions |
8 |
|
Forgo, Damjanovic & Partners Law Firm |
8 |
|
Loyens & Loeff |
8 |
|
Gavin Ralston Senior Counsel |
7 |
|
DLA Piper (Poland) |
7 |
|
CB Richard Ellis (Gbp) Ltd |
7 |
|
Kelly Walsh Property Advisors & Agents |
7 |
|
C&H Jefferson Solicitors |
6 |
|
Tods Murray |
6 |
|
First Ireland Risk Management |
6 |
|
Kane Tuohy Solicitors |
6 |
|
Cyril Oneill |
6 |
|
Abacus II |
5 |
|
Bernadette Kirby |
5 |
|
Peter Fitzpatrick & Company |
5 |
|
DLA Piper UK LLP (Belgium) |
4 |
|
Knight Frank (Dublin) |
4 |
|
Triay & Triay |
4 |
|
Walkers |
4 |
|
Salans & Associes |
4 |
|
DMH Stallard Llp |
4 |
|
Stevens & Bolton Llp |
4 |
|
Carrroll Kelly & Oconnor Solicitors |
4 |
|
Woods Hogan Solicitors |
4 |
|
Aspect Consulting |
4 |
|
K Tech Security Ltd |
3 |
|
Loncar & Andric |
3 |
|
Dillon Eustace |
3 |
|
John Spain Associates |
3 |
|
Millar McCall Wylie Llp |
3 |
|
McGuire Desmond Solicitors |
3 |
|
Kromann Reumert |
3 |
|
Ronan Kennedy BL |
3 |
|
Cheeswrights Notories Public |
3 |
|
Eoin Clifford |
3 |
|
Corporate Access (Legal Services) Ltd |
2 |
|
Polish Properties Sp.Z.O.O |
2 |
|
Gaftarnik, Le Douarin & Associes |
2 |
|
Nabarro |
2 |
|
Davis Langdon |
2 |
|
John Redmond |
2 |
|
Lambert Smith Hampton |
2 |
|
Turley Associates Ltd |
2 |
|
MMP Project Management |
2 |
|
Kingsbury |
2 |
|
DLA Piper Prague Llp |
2 |
|
Gwen Malone |
1 |
|
Richard Kearney Engineering Ltd. |
1 |
|
BJ Associes Sarl |
1 |
|
Rochford Brady Legal Services Ltd |
1 |
|
BTW Shiells Commercial Property Consultants |
1 |
|
RB Legal Services Limited |
1 |
|
BTO Brechin Tidal Oatts Solicitors |
1 |
|
DLA Piper Uk LLP (Liverpool) |
1 |
|
TLT LLP |
1 |
|
MKB Russells Solicitors |
1 |
|
17,705 |
