Nama prises €160m from families

Nama has recovered €160m worth of assets that debtors had transferred into their family members’ name — including one case worth €30m.

Chief executive Brendan McDonagh told yesterday’s sitting of the Oireachtas finance committee that 50 of Nama’s largest debtors had transferred assets to family members or other connected parties, but that 31 transfers had been recovered.

Nama is pursuing 22 others, some via the courts, and the value of these could be as high as €500m, he said.