National Asset Management Agency Chairman Frank Daly has rejected suggestions by the Taoiseach that developers whose loans had been acquired by the agency were regaining control of their properties at prices substantially lower than what they had originally paid for them.
Yesterday, Taoiseach Enda Kenny said he had indications that developers were using a variety of methods to acquire properties that had been taken from them.
NAMA has acquired more than €72bn worth of loans taken out by 850 property developers.
It has assessed the business plans of 40 of those developers and has sold property for €3.3bn through receivers, where developers refused to co-operate with it or had defaulted on their loans.
Speaking in Cork yesterday, Mr Kenny expressed concern that developers whose loans had been taken over by NAMA may be trying to get their property back.
This morning, Mr Daly denied that that was happening.
He said NAMA is prohibited from selling property to defaulting debtors, adding that the agency was absolutely determined that this prohibition would be enforced.
Mr Daly said NAMA has only sold property through receivers, who had been reminded that they were not permitted to sell the properties to defaulting debtors or to anybody connected to them.
NAMA's chairman said he was satisfied that this was not happening.
