NAMA reveals €32bn loan review total

The National Asset Management Agency (NAMA) has reviewed the business plans of some 40 debtors with loans worth more than €32bn, it was revealed today.

Speaking at the British Irish Parliamentary Assembly, NAMA chairman Frank Daly also said that up to the end of May, NAMA had approved sales worth more than €3bn.

It has advanced more than €810m of working and development capital, aimed at ensuring viable developments can be completed.

Mr Daly also told the meeting that the agency has overseen the appointment of 57 receivers or administrators where they believe its a necessary move to recover debts owed to the taxpayer.

However, it has also turned down recommendations from banks to appoint receivers in a further 31 cases.