Kenny 'reassured' on Nama assets


The Taoiseach has tonight expressed satisfaction with the reassurance from the National Asset Management Agency (Nama) chairman that developers were not being allowed to buy back their properties at low prices.

Earlier today Nama chairman Frank Daly said no evidence had been brought forward that developers were buying property back from the agency at a discount.

“The Taoiseach is reassured by what Frank Daly has said and he is happy that that Mr Daly understood what he was saying,” a Government spokesman said tonight.

The spokesman said Enda Kenny had made his initial remarks on foot of suggestions made to him that property developers were regaining control of their properties at prices substantially lower than they had originally paid for them.

The spokesman said that as a result of what Mr Daly had said the Taoiseach was now happy that this eventuality was being guarded against.

Speaking to reporters at the British-Irish Parliamentary Assembly in Cork today, Mr Daly was categorical that no such information had been presented to his agency in the wake of comments made the previous day at the Assembly by the Taoiseach.

Mr Kenny told reporters yesterday: “I am concerned about some reports that those who have had assets acquired from them and put into Nama have been making attempts to acquire them by a variety of methods”.

Responding to questions on the matter, Mr Daly said today: “What I took the Taoiseach to be quite legitimately saying was that he had a concern that this could happen, and he was asking Nama to make sure it didn’t happen and that we were on top of it, and that’s absolutely legitimate.

“My assurance is that it is not happening and we are absolutely determined that it will not happen.

“There are very strong provisions in the Act prohibiting the sale of properties back to defaulting debtors or indeed to anybody in anyway connected with that debtor.

“That’s a provision of the Act that Nama is absolutely determined to enforce,” he said.