Dáil Éireann Debate, Thursday - 16 July 2015
145. Deputy Michael McGrath asked the Minister for Finance the number of asset transfers to family members by debtors of the National Asset Management Agency that have been reversed; the total value involved; and if he will make a statement on the matter. [29742/15]
Amharc ar fhreagraI am advised by NAMA that it has obtained additional security over assets with an aggregate value in excess of €800m through a combination of the reversal of asset transfers and additional security over previously unencumbered assets. Approximately 25% of additional security by value has been obtained as a result of the reversal of asset transfers.
I am further advised by NAMA that the above figure is in line with NAMA's original estimate. In its Annual Report and Financial Statements for 2012, page 25, NAMA stated that it expected to obtain security over assets with a value of approximately €750m after its negotiations with debtors were completed.
