Nama outlines challenges as it aims to wind up operations

The asset management agency warned of difficulties in wrapping up insolvency cases and that some were almost certain to continue after the date of Nama’s closure at the end of 2025

Nama said they were facing considerable difficulties in retaining staff with a “broad set of skills and expertise” as employees were leaving knowing their jobs were soon to disappear.

The State’s bad bank asked the government to set up a ‘Nama resolution unit’ because there was no way they could finalise all legal cases, insolvency, and property disposals before their official wind-up at the end of 2025.

Nama is due to be shut down at the end of next year but informed the Department of Finance it will still have property on its books as well as outstanding litigation.