Delay Over Approval from EC to Postpone NAMA Start
The National Asset Management Agency (NAMA) will not begin operating on its scheduled date because the European Commission has not yet approved the Government’s solution to the banking crisis. The agency’s target of February 12 to begin buying toxic bank loans is likely to be missed as the commission has extended its examination of NAMA. […]
Taxman in Crackdown on NAMA and Black Economy
Revenue has been given a number of new powers under the Finance Bill ranging from the policing of the black economy to the monitoring of tax compliance at the new National Asset Management Agency (NAMA). As the Government attempts to beef up its tax take against the backdrop of the economic downturn, the Revenue will […]
First NAMA Transfers Fall Further Behind Schedule
The first transfer of loans from the troubled banks has fallen further behind schedule. Initially, the time-scale for the transfer of up to €19 billion of bad loans to the National Asset Management Agency was before Christmas 2009. It will be the end of the month before the first loan transfers will now happen. Ciaran […]
Developer Granted Leave to Challenge Nama over Loans
Developer David Daly and his children have been granted leave by the High Court to challenge the demand by the National Asset Management Agency for them to repay €457 million they owe Allied Irish Banks. Daly, his daughter Joanne and son Paul, failed in a bid to obtain injunctions restraining the activities of AIB-appointed receiver […]
