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NAMA paid out over €143m in consultant fees since 2009

More than €18 million has been spent of legal fees since NAMA’s inception in 2009.

NAMA
NAMA
Image: Photocall Ireland

SINCE THE INCEPTION of the National Assests Management Agency (NAMA) more than €143 million has been paid out to consultants and advisers.

The Minister for Finance Michael Noonan gave a breakdown of what had been paid out since 2009.

Legal fees

Legal fees for the first half of 2013 amounted to €612,000. Last year, legal fees cost NAMA over €4,634,000. In 2011, NAMA paid out over €9 million, while in 2010 they paid over €3 million.

Finance and technology fees cost over €1.2 million for the first half of 2013. Last year, NAMA paid out over €3 million, while in 2011 they paid €2.2 million and in 2010 fees cost €5.7 million.

The full breakdown can be seen below:

image

Noonan added that the expenditure costs do include one once off costs incurred in connection with the establishment of NAMA, due diligence connected with the acquisition of loans from the participating institutions and the initial review of debtor business plans.

Read: NAMA fights back against claims of illegality>

Read: Prices for NAMA artworks slashed to achieve faster sale>

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