Lenihan: ACC move makes NAMA urgent

FINANCE Minister Brian Lenihan said ACC Bank actions resulting in billion-euro examinerships for two developers have made more urgent the establishment of the National Assets Management Agency (NAMA).

Speaking ahead of today’s cabinet meeting to discuss the landmark bill setting up NAMA, he said the Rabobank/ACC tactic to break ranks and force Liam Carroll and John Fleming to seek court protection had not undermined NAMA’s creation but made passing the law a priority.

Mr Lenihan would not elaborate on the timetable, or suggest a summer recall of the Dáil to pass the legislation, but said it could not be unduly delayed.