Home › Services › Corporate recovery › NAMA

NAMA

Getting the Plan Right is All Important

The National Asset Management Agency (NAMA) is now fully operational with all relevant loans to be transferred to NAMA by February 2011. In all there are 14,000-15,000 loans now in the process of being transferred to NAMA from Irish banks operating under the government guarantee scheme.

The critical first step in deciding the future of these loans will be an evaluation of individual business plans for the underlying property assets on which they are secured. Developers will be expected to submit detailed business plans within 30 days after their loan has been acquired by NAMA.

The Baker Tilly Northern Ireland Restructuring and Recovery Team can assist borrowers in the interaction with their banks and with NAMA. Our services include:   

  • The preparation or review of business plans;

  • The preparation or review of financial projections;

  • The preparation or review of sensitivity and risk analysis;

  • Review of strategic options to maximise the value of your assets; and

  • Review and critique of working capital requirements.

Baker Tilly Ryan Glennon have been appointed by NAMA to a panel of suitably qualified financial advisors to provide advisory services in connection with the review and evaluation of borrowers’ business plans and to assist NAMA in its interface with those borrowers.

NAMA have flagged the prospective issues that they are looking to understand through the borrower business plan to facilitate their decision making process:

  • The borrower’s current financial position;

  • The level of indebtedness to non NAMA institutions;

  • A full list of assets and liabilities;

  • Short, medium and long term objectives;

  • A list, in order of priority, of assets to be disposed of and assets which require further investment;

  • Details of individual projects;

  • Estimate of where the borrower expects property prices to be going forward; and

  • Cashflow forecasts for a minimum period of 3 years.

For clients who are likely to transfer it is important they prepare a realistic and concise Business Plan that meets the requirements of NAMA. The quality of Business Plans in terms of accuracy, honesty and credibility will be key. We can help!