Written Answers - National Asset Management Agency

Thursday, 19 July 2012

Dáil Éireann Debate
Vol. 773 No. 3

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  66.  Deputy Michael McGrath  Information on Michael McGrath  Zoom on Michael McGrath   asked the Minister for Finance  Information on Michael Noonan  Zoom on Michael Noonan   if he will provide details of the number of court cases that the National Asset Management Agency has taken or plans to take to secure reversal of asset transfers by NAMA debtors which the agency believes were designed to put assets beyond the reach of the agency; if he will provide a breakdown of the type of assets which been returned to the agency thus far including cash, property and so on; and if he will make a statement on the matter. [36075/12]

[1005]Minister for Finance (Deputy Michael Noonan): Information on Michael Noonan  Zoom on Michael Noonan  I am advised that NAMA is currently pursuing a number of cases in the Courts to effect the reversal of asset transfers by NAMA debtors that appear to have been designed to put the assets beyond the reach of the Agency, including in the following cases:

NAMA advises that proceedings are being considered in a number of other cases. NAMA has to date agreed with certain debtors that the transfer of assets to connected parties be reversed. This has involved 31 debtors with assets worth €160 million. Additional detail on the breakdown of these assets will be provided in NAMA’s Annual Report, which will be published before the end of the month.


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