Nama loses its patience

Nama’s move against Derek Quinlan shows that the agency has no intention of going easy on borrowers

16th April, 2011

The message from Frank Daly, chairman of the National Asset Management Agency (Nama), was clear. ‘‘It is a myth that nothing is happening,” he said, countering criticisms of the agency, which was set up to relieve banks of their property loans.

The agency had completed the acquisition Of more than €72 billion in debts from the banks, had approved €2.7 billion in property disposals and was chasing developers for realistic business plans....

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