Daly: Developers not buying back property at knock-down prices

The NAMA Chairman Frank Daly is rejecting claims that developers are buying back their properties from the agency at knock-down prices.

The Taoiseach Enda Kenny raised concerns yesterday that some developers are trying to re-acquire buildings and sites at reduced rates.

However Mr Daly, who was speaking at the British Irish Parliamentary Assembly, has said it hasn't happened and he is determined to ensure it will not happen in the future.

The allegations from Fianna Fáil Senator Mark Daly that some developers are trying to buy back their propertiesthat were acquired by NAMA, at reduced prices, is being rubished by the NAMA Chairman.

However, Frank Daly is adamant it is not happening and said NAMA has contacted Senator Daly, but he has not produced evidence to back his claims.