NAMA Court Cases

Dáil Éireann Debate, Tuesday - 15 July 2014

Tuesday, 15 July 2014

Ceisteanna (191)

Stephen Donnelly

Ceist:

191. Deputy Stephen S. Donnelly asked the Minister for Finance to explain the reason three cases initiated at the High Court on 20 December 2013 by the National Asset Management Agency against a person (details supplied) and others were not included in the list of litigation produced in the National Asset Management Agency management report and accounts for quarter four, 2013, which were published in June 2014; if he will confirm the matters these three cases involve; if judgments were secured, the quantum of judgments sought; if any other cases have been omitted, the reason for any omissions; and if he will make a statement on the matter. [31073/14]

Freagraí scríofa

Minister for Finance

I am advised by NAMA that the cases referenced by the Deputy were inadvertently omitted from Q4/2013 s.55 report. NAMA advises that the cases relate to a debtor connection which is managed on NAMA's behalf by a Participating Institution (PI) and where the cases were initiated by that PI, under delegation from NAMA. The detail sought by the Deputy on the cases is set out as follows:

Title	Parties to the proceedings	Relief sought by NAMA or NAMA group entity
High Court Record No. 2013/4425S	MICHAEL BARKER, MARK BUTLER,  EUGENE MCMANEMY, JOSEPH DELANEY, EDWARD O'TOOLE, JOHN KINGSTON AND EDMUND JENNINGS	Order for Judgement for €19,546,374.65
High Court Record No. 2013/4426S	MICHAEL BARKER, CONOR O'BRIEN, JOSEPH HANNON, JOHN LENIHAN AND MARTIN FITZPATRICK	Order for Judgement for €1,256.649.16
High Court Record No. 2013/4427S	MICHAEL BARKER, TOM O'REGAN, DANIEL MCKEOGH AND JOE HYNES	Order for Judgement for €6,750,243.31

I am assured that NAMA has reinforced the mechanisms in place to ensure that all PI-managed legal cases are reported in accordance with the s.55 requirement.