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Thread: NAMA Tender Delays

  1. #1
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    Default NAMA Tender Delays

    What is delaying the process of making the outstanding appointments? The initial appointments were made with plenty of speed but the whole process appears to have stalled.

    ---

    The Following Tenders have been Completed

    Banking & Financial Advice - HSBC
    Tender Closed 25 May, Appointed 12 June - 17 days later.

    Tax Advisory Services - PWC
    Tender Closed 29 May, Appointed 12 June - 13 days later

    Legal Advice - Arthur Cox
    Tender Closed 8 June, Appointed 18 June - 10 days later

    ---

    The Following Tenders have not yet been Completed

    Loans Services Provider -
    Tender Closed 28 July - 84 days ago

    Legal Due Diligence -
    Tender Closed 26 August - 55 days ago

    Valuer Panel -
    Tender Closed 24 August - 57 days ago

    Audit Coordinator -
    Tender Closed 27 August - 54 days ago

    Loan & Associated Valuation Services -
    Tender Closed 28 August - 53 days ago

    Derivatives Valuation Services -
    Tender Closed 8 September - 42 days ago

  2. #2
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    maybe the brown envelope discussions are taking longer than expected.

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    Politics.ie Member Dreaded_Estate's Avatar
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    Why does NAMA need tax advise?

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    It doesn't seem to have any planning or development advice.

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    Quote Originally Posted by Dreaded_Estate View Post
    Why does NAMA need tax advise?
    There are taxation issues in most international transactions - a large proportion of the properties in question are outside of the jurisdiction so taxation advice would be required.

    Depending on the legal construction of NAMA they might also be liable to pay tax on certain activities.

    There are taxation issues present in most small enterprises, let alone large ones - it is unsurprising.

  6. #6

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    i bet mark duffys nama will run at twice the profit, and only take on half the loans.


    because anything that is gravy train led in this country at the minute, normally involves corrupt unions sticking their fingers in the pie, costing the private sector tax payer another few billion, so namas chances of speed and efficency are very limited thanks to david begg, and jack o connor ,and their degrees as "economists" with a further degree in ****************************************ting!

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    Quote Originally Posted by Dreaded_Estate View Post
    Why does NAMA need tax advise?


    PWC to advise on foreign taxes.

    More Here:-


    Banking, financial and tax advisers named for Nama - The Irish Times - Sat, Jun 13, 2009
    Banking Establishments are More Dangerous to our Liberties than Standing Armies.

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    Problem is the Brits have not done a NAMA so they have nothing to copy their model on other than Sweden and Japan would be like normal if the Brits had done all the legislation, just a few copies in Irish to do.

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    Quote Originally Posted by stanley View Post
    Problem is the Brits have not done a NAMA so they have nothing to copy their model on other than Sweden and Japan would be like normal if the Brits had done all the legislation, just a few copies in Irish to do.
    That's got nothing to do with closing tenders. The terms of the tenders would already have been defined when they went out for tender. What I am asking is why the first few tenders were completed within 2 weeks and then suddenly we hit a brick wall.

    How on earth do they expect there to be a valuation of tens of thousands of loans, in a reasonable time fram, when a valuer has not even been appointed yet?
    Last edited by johnfás; 21st October 2009 at 12:20 AM.

  10. #10
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    Lets take our time and let the market fall a bit more. It will save us billions. There is no need to sprint to our execution. Nama tenderers - take it slow.

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