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Updated 12.50pm
THE NATIONAL ASSET Management Agency (NAMA) is to meet with the Public Accounts Committee tomorrow morning to answer questions over allegations that have emerged in recent days about the handling of its loan book.
This morning committee members expressed concern about the possibility that the allegations that have been raised in recent days would not be dealt with before Christmas and New Year.
In a statement this afternoon, NAMA said that its chairman Frank Daly and chief executive Brendan McDonagh have agreed to attend a meeting of the PAC at 11am tomorrow in order to address the allegations in public.
A spokesman for NAMA said: “We are very grateful to the Chairman and to the members of the Committee for affording us this opportunity to meet with them at such short notice. We consider the PAC to be the most appropriate forum to address these matters.”
Earlier, Fine Gael TD John Deasy said that a lot of people “would like to see NAMA damaged and leaking information to the media is one way of doing that”, referring to allegations reported in recent days that former NAMA officials gave confidential information to individuals who should not have received it.
Two cases are currently the subject of garda investigations and a senior officer is liaising with the State’s bad bank on the issue.
In the Dáil yesterday, Fianna Fáil’s Micheál Martin said one of the claims being made is that an entire file in relation to a person whose loan book was with NAMA was sent to a partner in a “major global property company who was acting on behalf of that person’s rival”.
The Comptroller and Auditor General, Seamus McCarthy, told the committee this morning that it would be “difficult to see on a broad scale how there would have been any undervaluation” given the approach NAMA took to getting independent valuations.
He said that the whole process had been evaluated and approved by the European Commission.
Committee chairman John McGuinness said it is “hugely important” that NAMA clears up the matters that have arisen in recent days, saying “otherwise we go into Christmas and New Year with this information going out from whoever”.
He said that NAMA are “anxious and wiling” to come before the committee given the concerns expressed and suggested that members could bring them in today or tomorrow.
The PAC is meeting today primarily to deal with the top-ups controversy at some health agencies with officials from the HSE and the Deopartment of Health due to give evidence.
Members have also been discussing the possibility of getting extra resources in light of its increased workload in recent weeks with Fine Gael’s Eoghan Murphy expressing particular concerns.
McCarthy admitted there is a “very significant challenge” facing the committee in the months ahead.
- additional reporting Michelle Hennessy
First published 10.55am
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The shop in Galway is a no brainer! Guaranteed to make your money back in ten years and less if you can do something with the apartments above. Wonder would the bank give me a loan….
Thats just the reserve price put on it. Probably go for nearer €3m. Usually 20 times lease is price of building so if someone can pick it up for 14-15 times it would be good business with the added rooms upstairs. Oh to have money.
Exactly the thoughts of many who put us into this mess! If the Spar goes out of business, you then have an empty shop…..
€190k a year lease??? I think you should check your figures. Not a chance!!! Shops on Shop St cost one third.
U can’t have it gone to foreigners already
Going going gone ..lol Ogochukwu wishes youse all the best with that purchase ..lol but youse must remember that the Aldi’s and those Lidl’s are taking over , so youse could be ending up not under the tree but under water ..lol good luck ,,lol
Another property infomercial courtesy of Daft.ie.
Foreign banks firesell their distressed repos as NAMA and the Irish banks stockpile 1000′s of rotting homes.
A bit of truth and balance please.
What about an enquiry into the corrupt unregulated estate agent industry in Ireland journal???
When is a repossessed property not a repossessed property? At Allsops!
Recession me arse.
Why would anyone want to buy anything in Carrick On Suir?, its a awful hole of a place
Your assuming cash changes hands not very likely. So corrupt and rotten to core. No one will have a days luck with their stolen goods
Stolen goods?, what the heck are you even on about?
Easy there Martin.
Its a good place to live..but like a lot of small towns its being passed over in favour of its larger neighbours..an awful lot more positives than negatives in the town..and a great bunch of genuine people doing what they can to improve things for all.
Not a nice comment about Carrick, Martin. We have a great community and it is a good town to live in. Back off!
Nigel its a kip
What’s the matter? Can you not afford a decent life in Dublin ?
Decent life in Dublin?
For sewer rats maybe.
And drug dealers.
Hopefully the fellow at the last one who spoke about constant markievicz who gave his life for Ireland will turn up!
Just more and more spin from our corrupt estate agents, trying to talk the market up and up. A pox on them.
Has the propaganda quota for today been reached already?
Had many a pint in the Sibin in Carrick with my grandad. So many fond memories, shame to see it looking so sad and lonely.
Haven’t lived in Carrick for 20 years but grew up there and my family still there – unfair comments here. . Towns are all about the people who live in them not the buildings and Carrick has lots of great people and a great community spirit.
I wonder will Ulster bank buy this one ?They are paying €180,000 a year in rent reserve set at €650,000. http://www.allsopspace.ie/auction/lot/8222
Doubt it very much ! They want to get the hell out of Ireland !
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