Dáil Éireann Debate, Tuesday - 19 May 2015
111. Deputy Michelle Mulherin asked the Minister for Finance the total cost since the establishment of the National Asset Management Agency for advisers, consultants, lawyers, auctioneers and public relations companies; if he will provide details of the top 20 cumulative payments over the years to third party organisations and persons for their services; and if he will make a statement on the matter. [19253/15]
Amharc ar fhreagraI am advised by NAMA that the breakdowns of the costs and supplier sought by the Deputy are as set out in the following table.
Total spend on advisers, consultants, lawyers and auctioneers: inception to 2014.
Legal, consulting and advisory fees as per the published accounts for 2010 to 2014 and include invoices paid to suppliers and the movement in expense accruals.
|
Legal, Consultants and advisory |
2010 |
2011 |
2012 |
2013 |
2014 |
Total |
|
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
|
|
Actual |
Actual |
Actual |
Actual |
Actual |
Actual |
|
|
Portfolio Management fees |
5,087 |
15,992 |
6,882 |
5,549 |
3,775 |
37,285 |
|
Legal fees |
3,311 |
9,478 |
4,634 |
2,975 |
8,574 |
28,973 |
|
Due diligence (further breakdown below) |
29,605 |
44,505 |
4,086 |
- |
- |
78,196 |
|
Other internal audit fees |
- |
- |
288 |
- |
- |
288 |
|
Tax fees |
463 |
562 |
531 |
1,223 |
754 |
3,533 |
|
Cross operational organisational project |
- |
- |
- |
193 |
43 |
236 |
|
Financial adviser and consultancy fees |
5,014 |
12 |
55 |
19 |
- |
5,100 |
|
Total |
43,480 |
70,549 |
16,476 |
9,959 |
13,146 |
153,610 |
|
Less due diligence costs recovered on loan acquisitions |
(29,605) |
(34,505) |
- |
- |
- |
(64,110) |
|
13,875 |
36,044 |
16,476 |
9,959 |
13,146 |
89,500 |
|
|
Due diligence breakdown |
||||||
|
Legal |
7,062 |
7,053 |
85 |
- |
- |
14,200 |
|
Loan valuation |
9,295 |
20,900 |
2,187 |
- |
- |
32,382 |
|
Property |
4,419 |
7,607 |
513 |
- |
- |
12,539 |
|
Audit |
8,829 |
8,945 |
1,301 |
- |
- |
19,075 |
|
Total non-recurring due diligence costs |
29,605 |
44,505 |
4,086 |
- |
- |
78,196 |
Note: NAMA do not make any payments to PR firms directly; payments are made by the NTMA and recharged to NAMA via the NTMA General recharge.
Top twenty cumulative payments to suppliers: inception to 2014
|
Supplier Name |
2010 |
2011 |
2012 |
2013 |
2014 |
Total |
|
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
€'000 |
|
|
KPMG |
7,477 |
9,971 |
4,615 |
1,067 |
458 |
23,588 |
|
PriceWaterhouse Coopers |
8,330 |
4,341 |
1,370 |
73 |
182 |
14,297 |
|
Ernst & Young Chartered Accountants |
1,521 |
6,867 |
113 |
0 |
0 |
8,501 |
|
Alvarez & Marsal Europe Llp |
2,214 |
4,410 |
482 |
0 |
0 |
7,106 |
|
FTI Consulting Ltd |
881 |
2,676 |
786 |
0 |
0 |
4,342 |
|
UHY Hacker young Llp |
659 |
2,096 |
1,155 |
0 |
0 |
3,909 |
|
UBS Limited |
0 |
0 |
50 |
0 |
3,850 |
3,900 |
|
Jones Lang LaSalle Ltd |
824 |
2,406 |
860 |
0 |
0 |
4,090 |
|
Deloitte & Touche |
1,438 |
1,487 |
7 |
0 |
0 |
2,933 |
|
Aon Risk Solutions |
0 |
459 |
934 |
788 |
649 |
2,830 |
|
Arthur Cox |
1,033 |
669 |
568 |
311 |
224 |
2,804 |
|
McCann Fitzgerald |
0 |
262 |
273 |
634 |
1,497 |
2,667 |
|
Hogan Lovells International Llp |
2,197 |
1,046 |
144 |
0 |
852 |
4,239 |
|
Eugene F Collins |
269 |
0 |
272 |
1,888 |
25 |
2,454 |
|
Grant Thornton |
123 |
1,029 |
1,372 |
567 |
57 |
3,146 |
|
Allen & Overy Llp |
922 |
679 |
583 |
527 |
0 |
2,711 |
|
Donal O'Buchalla & Co Ltd |
329 |
873 |
2 |
0 |
0 |
1,204 |
|
Dillon Eustace |
709 |
428 |
5 |
0 |
0 |
1,141 |
|
Smith & Williamson Freaney Ltd |
110 |
788 |
165 |
0 |
52 |
1,115 |
|
Eastdil Secured LLC |
0 |
0 |
0 |
1,109 |
0 |
1,109 |
Note: Top twenty supplier payments above are the cumulative of all expense types outlined in part one of the response which includes due diligence expenses incurred at the inception of NAMA which were later recovered from the Participating Institutions.
