NAMA will be transparent and fair, says Sheehy

AIB’s outgoing chief executive Eugene Sheehy has said he is confident in how NAMA was being set up. “It will be very transparent and fair to everybody,” he said, when presenting the bank’s half-year figures in Dublin yesterday.

Individual valuations are being done by the banks on the basis of market and economic values while those setting up NAMA on the State’s behalf are also going through a rigorous process in setting the value of each loan as they go, he said.

Disputes can be passed to the EU who can be the final arbiters when disagreement arises, he said.