Written Answers - National Asset Management Agency

Tuesday, 14 February 2012

Dáil Éireann Debate
Vol. 755 No. 2

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  179.  Deputy Terence Flanagan  Information on Terence Flanagan  Zoom on Terence Flanagan   asked the Minister for Finance  Information on Michael Noonan  Zoom on Michael Noonan   if he will provide a full breakdown of the firms paid professional fees such as accountants, solicitors and other advisors of the National Asset Management Agency since the date of NAMA’s inception; and if he will make a statement on the matter. [8321/12]

Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan  Zoom on Michael Noonan  NAMA informs me that it cannot provide all the details requested by the Deputy in the time available. NAMA has undertaken to provide me with this information before the end of the week and, accordingly, I will issue a reply to the Deputy at that stage. In the meantime, I can provide the Deputy with certain information on legal fees. These details are set out as follows.

NAMA advise that the details are on a cash paid basis as opposed to the accrual accounting basis that must be used in the Agency’s annual financial statements. It should also be noted that the figures for 2012 are those incurred up to 6 February only.

Total Legal expenses by year (€)

Year Base Amount
2010 9,746,625.68
2011 16,455,532.56
2012 1,349,117.41
Total 27,551,275.65

Top Ten suppliers to date (€)
1 Arthur Cox 3,074,552.86
2 Hogan Lovells International LLP 2,926,301.47
3 Allen and Overy LLP 2,473,941.32
4 Maples and Calder 2,046,545.39
5 Matheson Ormsby Prentice 1,577,475.09
6 Byrne Wallace 1,507,035.68
7 William Fry Solicitors 1,445,142.62
8 A&L Goodbody Solicitors 1,374,989.35
9 Dillon Eustace 1,189,329.74
10 Beauchamps Solicitors 1,166,591.81

Top Ten Suppliers by year

2012
1 A&L Goodbody Solicitors 324,087.32
2 Hogan Lovells International LLP 164,437.04
3 William Fry Solicitors 152,472.45
4 Byrne Wallace 114,664.76
5 Beauchamps Solicitors 68,014.10
6 Simmons and Simmons LLP 62,056.91
7 Maples and Calder 56,959.78
8 SNR Denton UK LLP 46,350.20
9 Taylor Wessing LLP 42,991.63
10 DLA Piper UK LLP 42.488.52

2011
1 Hogan Lovells International LLP 1,482,460.33
2 Maples and Calder 1,436,958.03
3 Arthur Cox 1,161,824.36
4 Matheson Ormsby Prentice 1,147,062.53
5 McCann Fitzgerald 1,030,955.02
6 Allen and Overy LLP 1,012,815.95
7 A&L Goodbody Solicitors 858,613.10
8 William Fry Solicitors 851,490.29
9 Beauchamps Solicitors 809,880.15
10 Byrne Wallace 787,574.42

2010
1 Arthur Cox 1,896,827.73
2 Allen and Overy LLP 1,424,973.95
3 Hogan Lovells International LLP 1,279,406.10
4 Dillon Eustace 708,632.76
5 Byrne Wallace 604,796.50
6 Maples and Calder 552,627.58
7 William Fry Solicitors 441,179.33
8 Eversheds O’Donnell Sweeney 424,198.20
9 Matheson Ormsby Prentice 407,353.51
10 LK Shields Solicitors 376,848.75


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