Nama runs up €2.8m in legal defence fees

Nama has run up fees of €2.8m to date in defending claims against it in the courts.

According to Minister for Finance Michael Noonan, legal proceedings have been issued against Nama or a Nama group entity in 66 cases, of which 40 cases are ongoing.

In a written Dáil response to Fianna Fáil’s finance spokesman Michael McGrath, Mr Noonan said 26 cases have been completed and “25 of those completed cases resulted in a favourable outcome for Nama, whilst one case resulted in a partly favourable outcome for Nama”.