Kenny urges NAMA vigilance against property buy-backs

Taoiseach Enda Kenny said today that he hopes NAMA is on top of claims that some developers are trying to buy back properties from the agency at knock-down prices.

Speaking to reporters at the British Irish Parliamentary Assembly at The Rochestown Park Hotel in Douglas, Cork, Mr Kenny said that the practice of buying back NAMA properties should not be permitted.

"Well I’ve had some indications of attempts to acquire property that was taken from, or that was acquired from, developers through a variety of methods," said Mr Kenny.

"I hope that NAMA are on top of that, and that where NAMA have acquired assets like that, that they don’t find their way back to where they were acquired from in the first place."

His comments follow a claim in the Seanad by Senator Mark Daly that some developers were buying back their own assets under their current market value.