Noonan confirms 97% approval rate for rent reductions by Nama tenants

The Minister for Finance Michael Noonan has confirmed that Nama has a 97% approval rate for rental reductions by tenants of Nama debtors.

Last December, Nama issued a Guidance Note on Upward Only Commercial Leases.

The publication followed the announcement by Mr Noonan that the Government had abandoned plans to scrap upward only rent reviews.