Nama will take action over transfer of assets to spouses

The agency will legally pursue borrowers who attempt to place assets beyond Nama’s reach, said CEO Brendan McDonagh.

THE NATIONAL ASSETS Management Agency will begin to pursue legal cases against borrowers who transfer assets into their spouse’s names in an attempt to place them out of Nama’s reach.

Speaking to the Joint Oireachtas Committee on Finance, Public Expenditure & Reform, Nama CEO Brendan McDonagh said that the agency had managed to secure the return of several properties on a voluntary basis, RTÉ reports.

Earlier, The Chairman of Nama defended his institution’s practice of paying six-figure salaries to some of the country’s most indebted developers. Frank Daly told an Oireachtas committee: “With several billion of taxpayers’ money at stake, you’re trying to get the best return by getting the person who we believe is best placed to get that return”.

Daly said that the average salary paid by NAMA to developers was between €75,000 and €100,000 – and in some cases up to €200,000.

Read: NAMA chairman defends paying six-figure salaries to developers>

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