Tuesday, 13 May 2014

Ceisteanna (196)

Stephen Donnelly

Ceist:

196. Deputy Stephen S. Donnelly asked the Minister for Finance if he will provide in tabular form the annual value of judgments obtained, together with the sums recovered, in respect of those judgments, by the National Asset Management Agency against companies and persons, as a result of proceedings in the courts here in each of 2010, 2011, 2012 and 2013. [21194/14]

Amharc ar fhreagra

Freagraí scríofa (Ceist ar Finance)

I am advised by NAMA that it has obtained judgements totalling over €2.3 billion to date, details of which are set out below.

Year

Value of Judgement

2010

€82,434, 690

2011

€617,382,642

2012

€965,565,689

2013

€650,369,981

Total

€2,315,948,710

NAMA advises that judgements, where obtained, do not themselves give rise to debt realisation but rather are used as a legal mechanism to increase potential recoveries.  Judgements are used to, inter alia, confirm debts related to specific security, obtain security over unencumbered assets known to be owned by a debtor or to confirm debt against guarantors and other parties to a loan.  NAMA has successfully used judgements in court actions against debtors and has, through this and other mechanisms, including its ongoing engagement with debtors, obtained charges over unencumbered assets both in Ireland and abroad with a value in excess of €800m.