Bad bank unlikely to reveal developers it is paying salaries to despite FoI Act
THE names of the developers getting paid salaries of more than €100,000 by NAMA are likely to remain secret -- even though the agency has come under the Freedom of Information Act.
NAMA had resisted being brought in under the act, which will require it to release more information on its property loans.
But the agency is likely to block the release of the names of 66 developers getting paid huge salaries on the grounds it is commercially sensitive.
NAMA chairman Frank Daly warned recently the agency could be sued if it breached the "banker confidentiality" that applied to the loans of developers.