NAMA silent on pursuit of transferred assets

NAMA is unable to say how successful it has been in dealing with developers who transferred mansions, helicopters and other valuable to their wives.

The agency promised a tougher stance on the practice last year, vowing to pursue 30 highly indebted builders who were still living millionaire lifestyles after being bailed out by the state.

But since making its pledge, not a single case has gone through the courts this year using powers in the NAMA Act. The law allows the agency to force a reversal of asset transfers that were aimed at putting valuables beyond NAMA’s reach.