Friday 20 October 2017

Nama shows a new-found interest in family values

The first Nama family law case shone a light on the interests which best serve the agency, writes Ronald Quinlan

IT'S something of a measure of the secrecy of Nama that it takes the publication of a High Court judgment on a developer's legal separation from his wife to shed some light on how the State's so-called 'bad bank' interacts with its borrowers.

For even though the identity of the developer in question remains a closely-guarded secret in the judgment of Mr Justice Henry Abbott (owing to the exigencies surrounding the reporting of cases of family law) the curious case of Mr 'YX' and his estranged wife, Mrs 'XY', offers a rare insight into the collective thinking of the Nama boardroom, and what it deems to be in the best interests of the taxpayer.

When it comes to Mr YX for example, the need for Nama to now have him manage his boomtime borrowings of €2.3bn would appear to have given him secure employment with the agency for the next 10 years.

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