NAMA Business Plans

In 2009, NAMA (National Asset Management Agency) was established in Ireland, under the auspices of the National Treasury Management Agency (NTMA). In 2010, NAMA will have taken over €73 billion worth of loans from participating Irish banking institutions and will have issued over €30 billion to the institutions.

Borrowers must submit detailed business plans to NAMA within a timeframe defined by NAMA. When a Debtors loans have transferred to NAMA, a letter will be forwarded detailing the NAMA case officer that will be dealing with the connection, providing the Debtor with their NAMA ID and proposing a deadline for the receipt of the business plan. NAMA then determines whether the business plans are viable and will either approve them, reject them or refer them back to the respective borrowers for amendment.

Business plans form a key part in NAMA's decision making process. These business plans help NAMA to understand the borrower's ability to repay the loans, and focus on demonstrating the long term viability of the borrowers business. The business plans form the basis for future funding and sales targets for the various assets.

Since the enactment of the NAMA legislation, Declan Lynch, Partner at Westboro Partners and his team have been involved in planning with clients relating to the transfer of eligible loans to NAMA and the preparation of business plans for NAMA. In a relatively short period, we have built up significant expertise in dealing with questions generated by NAMA, the participating institutions and third parties acting on behalf of NAMA including NAMA valuers such as CB Richard Ellis (CBRE).

Westboro Partners bring valuable insights and experience in relation to the preparation of NAMA business plans. Our team are experienced negotiators with banks and in the provision of expert financial advice to individuals and corporates.

For more information, contact Declan Lynch.