Weekend press reports [Sunday Independent -19th February] alleged that the actions of the National Asset Management Agency [NAMA] could have cost 230 jobs that were being created in Dublin.

This story is completely inaccurate and misleading.

NAMA wishes to state that no effort was made by the paper in question to check the allegations being made with NAMA through its Press Office before the story was published and no opportunity was afforded the Agency to reject the allegations being made.

The facts of the situation are that NAMA actions were crucial to resolving a number of issues that NAMA inherited which would have prevented the jobs being created including settling a Court action over rights of way involving an adjoining land owner and settling outstanding development levies owed to South Dublin County Council. 

This ensured that services and access were provided for over 70 acres in this and an adjoining development site.

NAMA’s actions in this matter not only enabled the project to proceed but facilitated the sale of a second adjoining site in the vicinity which will see another high tech computing operation proceed which will create additional employment. 

Throughout this project, NAMA dealt directly with South Dublin County Council and with IDA and the Agency has very good relationships with both at senior levels where matters not of NAMA’s making were able to be resolved very quickly.

Speaking today a spokesman warned that the Agency has seen a significant increase in the number of baseless, critical stories relating to the Agency as the level of enforcement activity by NAMA has increased in recent months and also where NAMA has applied increased pressure on some debtors to reverse asset transfers, reduce overheads or provide unencumbered assets; “We have seen increased efforts to spread unfounded and damaging stories about NAMA by some parties whose sole agenda seems to be to frustrate NAMA in carrying out its responsibilities.”

“NAMA wants to place it on record that it will continue to be resolute in fulfilling its legislative mandate and will not be swayed by inaccurate and misleading commentary”

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