JUL124215 - Appointment to a panel for the provision of legal services to NAMA

On the direction of the Minister for Finance, the NTMA is seeking to appoint a panel of suitably qualified and experienced Irish qualified legal advisers to advise and assist the NTMA (and on its establishment, NAMA) in carrying out legal due diligence on the Irish assets that will be acquired by NAMA (ie: loans and other security documents governed by and construed in accordance with Irish law).All assets to be acquired by NAMA will be subject to legal due diligence. Pro forma due diligence reports will be produced by participating institutions in respect of each asset before it is valued and transferred. It is envisaged that the due diligence reports will include the following fields of enquiry in respect of loans and underlying security:1. Summary of the facility2. Default status3. Hedging arrangements4. Security arrangements5. Corporate capacity and authority6. Security registration 7. Inter-lender agreements8. Development and construction matters including planning and environmental9. Litigation and disputes10. VAT and other taxes11. Ancillary reporting of occupational leases, agreements for lease, licensing etcNAMA’s legal advisers will be requested to carry out a range of legal services (the “Services”) in connection with the acquisition of bank assets including, where required:- Review of bank due diligence reports and making recommendations to NAMA based on such review - Making further due diligence enquiries in connection with certain assets- Updating due diligence to the date of acquisition and dealing with any material adverse change issues- Dealing with legal issues in the completion process in coordination with NAMA’s other professional advisersNOTE: Further information and additional documentation relating to this notice may be available on the eTenders Web Site at http://www.etenders.gov.ie/Search/Search_Switch.aspx?ID=91771.

Works

26/08/2009 16:00:00