Friday 28 April 2017

Spawell sellers legally obliged

Sir - I wish to refer to a number of articles written by Colm O'Rourke and published recently in the Sunday Independent (June 21 and June 28) regarding the sale of the Spawell complex in Dublin. These articles paint a less than accurate picture of the facts, and make inaccurate assertions against me.

While I don't speak for Nama, I understand that the property in question was not owned by Nama. Rather, Nama was a secured lender. A statutory receiver sold the property and was legally obliged to obtain the highest price.

That was in the best interests of the debtor and the taxpayers of this country. As I have pointed out previously, there was a competitive process for the sale of this property, a property that generates substantial rental income.

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