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Thread: NAMA threatens NamaWineLake

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    Default NAMA threatens NamaWineLake

    NAMA threatens injunction against NAMAwinelake blog | NAMA Wine Lake

    This evening, communication has been received from Hayes Solicitors, acting on behalf of NAMA, threatening that unless a commitment is given not to publish the table referred to in this blogpost, then NAMA will seek “injunctive relief” to prevent such publication. The table referred to in the blogpost on John Fraher’s affidavit purports to show 103 loans with the name of the borrower which in some cases is an individual or group of individuals and in others is a company or business. Each of 103 loans shows “Full due diligence nominal value local currency” and “final acquisition value, euro” or in layman’s terms what appears to be the par value of the loan and the NAMA valuation. Remember NAMA has acquired €74bn of loans at par value and paid 43c in the euro on average, or €32bn in total.


    The offending article:

    NAMA provided reams of confidential financial information to third parties – affidavit

    NAMA provided reams of confidential financial information to third parties – affidavit | NAMA Wine Lake


    What is exceptional is that John’s affidavit reveals evidence that NAMA is sharing, or at least shared in John’s case, details of loans owing by people connected to John, but also people unconnected to John directly but merely connected to borrowers who are in turn connected to John. Not just that, but NAMA seemingly disclosed not just the par value or nominal value of the loans but the value at which the loans were acquired by the Agency.
    So it looks like Nama leaked info, and then NAMA is threatening some for publishing said info.

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    Are they afraid to show the valuation given to some loans vis a vis others, and if so, why?

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    Politics.ie Member b.a. baracus's Avatar
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    Quote Originally Posted by ManInTheArena View Post
    Are they afraid to show the valuation given to some loans vis a vis others, and if so, why?
    If you are selling a car and the person knows you bought it for 5k their bid price will be structured accordingly. They know you will be making money at €5.5k so are likely to bid low.
    I ain't gettin' on no plane

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    Politics.ie Member cyberianpan's Avatar
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    And it is to be noted that NamaWinelake is acting honorably, and redacted some of the the information pre-publication, and is now seeking Data Protection Commissioner guidance on it.

    At the very least I hope Nama thought long and hardd before bringing this threat against NamaWinelake, who has performed a sterling public service in general

    cYp
    "Yawn , am I alive yet ?"

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    Quote Originally Posted by ManInTheArena View Post
    Are they afraid to show the valuation given to some loans vis a vis others, and if so, why?
    Because it puts then in a bad negotiating position and by releasing the info, they may have broken the law themselves. This does not show them in a good light.

    It may show how fubared NAMA is. Remember when all of NAMA's losses are realized they will be born by the suckers.

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    Politics.ie Member stopdoingstuff's Avatar
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    NAMA should not even exist.
    Faoi mhóid bheith saor

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    Politics.ie Member dresden8's Avatar
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    Lenny the liars poison legacy.

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    Quote Originally Posted by cyberianpan View Post
    And it is to be noted that NamaWinelake is acting honorably, and redacted some of the the information pre-publication, and is now seeking Data Protection Commissioner guidance on it.

    At the very least I hope Nama thought long and hardd before bringing this threat against NamaWinelake, who has performed a sterling public service in general

    cYp
    Actually I think they are saying that the information disclosed involved a breach of privacy of third parties, that as such they will not publish it, but will forward on what was given to them to the DPC to allow him to make a determination and to take action if the material involves a breach of the Data Protection legislation.

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    Politics.ie Member Nemesiscorporation's Avatar
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    Quote Originally Posted by Mr. Magpie View Post
    NAMA threatens injunction against NAMAwinelake blog | NAMA Wine Lake

    The offending article:

    NAMA provided reams of confidential financial information to third parties – affidavit

    NAMA provided reams of confidential financial information to third parties – affidavit | NAMA Wine Lake

    So it looks like Nama leaked info, and then NAMA is threatening some for publishing said info.
    I hope Nama wine lake wins through on this.

    Nama wine lake is far from perfect, but it has been performing a spectacular public service.

    NAMA has resisted attempts to open it up to freedom of information disclosures. It is purely paid for by the Irish tax payer so should be held to scrutiny by the Irish tax payer.

    Nama wine lake is performing a vital public service by holding NAMA up to scrutiny. There published facts are an important public service in my opinion.

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    Politics.ie Member Spanner Island's Avatar
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    Ever since the first day I heard about NAMA and what it was going to be, I knew it would simply be another massive state run quango without any accountability, that it would go on for years (if not decades), that it would be stuffed to the hilt with vested interests and 'establishment' cronies and that it would cost us all a f***in' fortune...

    NAMA is simply another unaccountable state monolith which should never have existed in the first place and which needs to be obliterated ASAP...

    It is a massive scam. Simple as.

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