Friday 24 February 2017

NAMA racks up €2.8m legal fees

The National Asset Management Agency (NAMA) has clocked up fees of €2.8m to date in defending claims against it in the courts.

According to the Minister for Finance, Michael Noonan, legal proceedings have been issued against NAMA in 66 cases, of which 40 cases are ongoing.

In a written Dáil response to FF Finance spokesman Michael McGrath, Mr Noonan said that 26 cases have been completed and 25 have resulted in a favourable outcome for NAMA, with one case resulting in a partly favourable outcome.

NAMA's high success rate in the cases taken against it has resulted in the agency recovering €2.6m in legal costs from those cases.

Irish Independent

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