Dáil Éireann Debate, Tuesday - 3 November 2020
443. Deputy Duncan Smith asked the Minister for Finance the details of the financial transactions associated with land registered which was sold by NAMA to a company (details supplied); the price paid to NAMA for this site; and if he will make a statement on the matter. [33660/20]
Amharc ar fhreagraI am advised by NAMA that they do not typically own or sell properties. Rather NAMA’s role is as secured lender and the properties securing NAMA’s loans remain under the control of their registered owners, or in the case of enforcement, the appointed receiver. The Deputy will be aware that I, as Minister for Finance, have no role in respect of NAMA's commercial operations or transactions. Furthermore, by virtue of sections 99 and 202 of the NAMA Act, NAMA is legally precluded from disclosing confidential information regarding debtors or their properties.
In the case of the property referenced, I am advised that NAMA’s involvement was as charge-holder only. The property was not sold while it was secured to NAMA and NAMA’s involvement with the property ended in 2015 when the associated loans and security transferred as part of a wider loan sale, Project Arrow. NAMA therefore does not have any knowledge as to any subsequent sale of this property.
The Deputy is advised that NAMA has a dedicated email address for general queries and representations from Oireachtas members: oir@nama.ie. This email is monitored regularly, and queries are responded to promptly, while observing the statutory principle of debtor confidentiality that is set out in the NAMA Act.
