NAMA Expenditure

Tuesday, 20 March 2018

Ceisteanna (85)

Niall Collins

Ceist:

85. Deputy Niall Collins asked the Minister for Finance the amount paid to each receiver appointed by NAMA since its establishment; and if he will make a statement on the matter. [12387/18]

Amharc ar fhreagra

Freagraí scríofa

I wish to advise the Deputy that all receivers appointed to NAMA-secured properties are selected from NAMA's insolvency service provider panel which was established following a competitive public procurement process through which very competitive fixed-fee rates were achieved relative to prevailing market norms.

I am advised that, in general, fees are not paid to receivers directly by NAMA but are instead paid out of the proceeds of assets under receivership or the management of these assets, pending realisation. Fees for any particular insolvency are set by reference to the fees quoted by the insolvency practitioner as part of the public procurement process. All appointments are subject to on-going monitoring and evaluation and, in many cases, additional fee reductions are negotiated to ensure that fees are appropriate for the amount of work remaining on any given appointment. Typically fees reduce as the assignment progresses and the number of assets reduces by way of disposals or otherwise. However, this depends on the complexity of the insolvency and the issues that may emerge during its course.

The fees paid to receivers for their work on NAMA-secured assets from inception to end-2017 are outlined in the following table. This includes fees paid to receivers who were appointed to assets prior to the acquisition of the related loans by NAMA.

Receiver Payments by NAMA from inception to end-2017

	IP FIRM	Total IP Fees €
1	Alder King	8,502
2	Allsop	1,201,541
3	Bannon Commercial	320,643
4	BDO	4,310,228
5	BDO UK	2,607,426
6	Begbies Traynor	948,850
7	BNP/Allsops	2,360
8	BTW Shiells	160,524
9	Capita Symonds	86,138
10	Cavanagh Kelly	30,337
11	CBRE	264,346
12	CBRE UK	188,525
13	Chantrey Vellacott	365,977
14	Colliers	22,950
15	Colliers UK	13,216
16	Cordes & Co	109,671
17	Crowe Howarth	2,956,272
18	Cushman Wakefield (UK)	6,724
19	CVR Global	115,000
20	Deloitte	7,515,703
21	Deloitte (UK)	818,301
22	Douglas Newman Good	260,833
23	Dr Peter Minuth (Piepenburg Geerling)	588,000
24	DTZ	188,600
25	DTZ - Now CBRE	7,500
26	Duff & Phelps (Formerly FGS)	9,289,347
27	Duff & Phelps LLP	1,658,357
28	EY	5,191,254
29	EY UK	153,400
30	Eddisons	13,275
31	Edward Symmonds/LSH	95,758
32	Edward Symmons	117,692
33	Ferris & Associates	1,888,825
34	Friel Stafford	382,405
35	FRP Advisory	657,649
36	Ganly Waters (formerly Knight Frank)	238,197
37	Grant Thornton	14,170,731
38	Grant Thornton (UK)	4,905,244
39	GVA Bilfinger	30,000
40	GVA Donal O'Buachalla	1,017,648
41	GVA Grimley	818,659
42	HBC	41,150
43	Hooke & McDonald	90,201
44	Hughes Blake	1,235,049
45	HWBC	1,541,521
46	HWBC Allsop	34,173
47	Irvine Nott	5,900
48	Johnston Carmichael	154,580
49	Jones Lang LaSalle	478,923
50	Keenan Corporate	1,055,505
51	Knight Frank (now Ganly Walters)	30,600
52	KPMG	10,139,670
53	KPMG UK	3,613,006
54	LSH (previously BTW Sheils)	588,126
55	Lisney	931,114
56	Mason Owen Lyons	157,045
57	Mazars	8,558,658
58	McKeogh Gallagher Ryan	2,564,665
59	McPeake Auctioneers	36,280
60	McStay Luby	2,920,443
61	Moore Stephens Nathans	42,515
62	O'Connor Pyne & Co Limited	21,125
63	O'Dwyer Property Management	875,146
64	Osborne King	25,618
65	PKF O'Connor Leddy Holmes	12,691
66	PKF/BDO UK	369,635
67	PwC	7,526,964
68	PwC UK	1,020,285
69	RSM Ireland / Baker Tilly	4,957,148
70	RSM McClure Watters	1,038,105
71	RSM UK / Baker Tilly (UK)	5,068,335
72	Russell Brennan Keane	1,548,685
73	Savills	1,770,178
74	Smith Williamson	1,333,065
75	SPW UK	149,326
76	WK Nowlan	272,070
	Total	123,934,103