Fears grow that transfer of €19bn in loans to NAMA could be delayed

FEARS are growing that the first transfer of loans worth an estimated €19 billion to NAMA will not take place on February 12 as intended.

Delays in approving the plan at European Commission (EC) level and a number of objections to the Government rescue plan to save the Irish banks from collapse have raised serious doubts about the time frame.

Up to €77bn in property and land loans are to transfer under the rescue plan with the Government due to hand over a total of €54bn for the loans representing a 30% discount.