Joint Committee on Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach to discuss dissolution of NAMA with CEO Brendan McDonagh

The Committee chaired by Deputy Mairéad Farrell will discuss the dissolution of NAMA and related matters with Mr McDonagh and his colleagues at 3:30pm in Committee Room 3 of Leinster House.

Speaking ahead of the meeting, Deputy Farrell said: “NAMA was established in 2009 as part of the State’s response to the 2008 banking crisis to deal with property-backed loans. At that time, NAMA acquired 11,500 land and development and associated loans from five Irish financial institutions, with over 800 debtor connections, an acquisition value of €32 billion and a par value of €74 billion. 

“It was originally planned to complete the dissolution of the entire NAMA infrastructure by the end of 2025. However, it has become clear that this will not be feasible as some assets may still be on NAMA’s Balance Sheet, and some litigation cases may be outstanding at end-2025. 

“The Committee has invited Mr McDonagh and his colleagues to discuss matters including the dissolution of NAMA, the retention and/or destruction of data/records, ongoing and unresolved cases, staffing arrangements following the dissolution, current assets under NAMA’s ownership and an update on NAMA’s Commission of Investigation Report and expected publication.”

The Joint Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation, and Taoiseach has 14 Members, nine from the Dáil and five from the Seanad.

The meeting in Committee Room 3 can be viewed live on Oireachtas TV.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.