18 Aug 2022

NAMA hits back at Longford councillors

NAMA hits back at Longford councillors

By Liam Cosgrove

In a highly unusual move, NAMA has responded to remarks made by councillors at a recent meeting of Longford County Council.

The National Assets Management Agency issued a terse response this week to comments made by Cllr Mae Sexton and Cllr Micheal Carrigy at the meeting.

At that meeting, Cllr Sexton claimed agreements were being reached with certain high profile debtors to the detriment of others.

The Independent councillor said she decided to raise the issue after learning how one local constituent had unsuccessfully tried to purchase a premises in Longford.

“What is happening is that some people are going into NAMA and are getting a third party to purchase back their property at a phenomenally low rate,” she said.

Responding, NAMA roundly dismissed Cllr Sexton's remarks and said the non-party local politician was mistaken.

In a statement to the Longford Leader, NAMA said it was not in the business of conducting shady or underhand deals.

“All NAMA assets are openly marketed and sold to the highest bidder to ensure that the highest achievable price is obtained for the taxpayer,” read the statement.

The agency said Section 172 of the NAMA Act precluded debtors or parties associated with them from buying back properties. The agency also said that it was precluded from disclosing information about borrowers.

For more on this story, see this week's Longford Leader.

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