Published Monday, 13 June 2011
Speaking at the British-Irish Parliamentary Assembly in Cork, Mr Kenny said he had some indications that boom-time speculators who couldn't repay massive loans - now tied to the taxpayer - were trying to buy back their properties at a fraction of the original price.
Just over a week ago, the state toxic assets agency dismissed allegations repeated by a Fianna Fáil senator about the practice.
Mr Kenny, who said he intends to meet Finance Minister Michael Noonan about the issue, added: "I hope that NAMA are on top of that, and that where NAMA have acquired assets that they don't find their way back to where they were acquired from in the first place."
The Chairman of the National Asset Management Agency, Frank Daly, confirmed that NAMA has reviewed the business plans of some 40 debtors whose loans account for over €32bn.
Outlining the progress being made, Mr Daly said that NAMA has already approved €3.3bn in sales and that it has reduced its debts by over €1bn over the past 12 months - comprised of €750 of NAMA bonds which have been repaid by the Agency and a debt of €299m repaid to the Minister for Finance.
The Taoiseach also told the Assembly that the coalition Government was working on a loan guarantee scheme to get Ireland's bailed banks lending again to small businesses.
Enda Kenny said he will press lenders to reveal what loans they are making available to business.
But he declined to give a timeframe for the measures along with the proposed strategic investment bank, agreed as a priority by Fine Gael and Labour when they struck a deal to share power.
"Not everything can be achieved in the first 100 days of office, but that is an important element of the programme for government and discussions are ongoing about how best to implement that," he said.
Struggling traders have demanded bailed-out banks 'come clean' on the scale of loan refusals after a survey found more than half have been denied vital funding in recent months.
Small businesses claim lenders are returning to their old habits as access to credit plunged to its worst level since the economic crisis began.