The chairman of the National Asset Management Agency (NAMA) says the agency has not sold any of its loans back to the people who owe them. Frank Daly says the agency is legally forbidden from allowing debtors to buy back their loans at less than their full value.

He has told the Public Accounts Committee PAC) that NAMA does not know of any cases where someone who owes it money has been able to get off the hook.

"We are not aware of any case in which a loan or an asset - whether it be property or the loan itself - has been sold back either directly or indirectly to a defaulting debtor" he said.

"But there's only so much we can do" he added.

Earlier, the chariman & CEO came out fighting and denied the agency is behind any impropriety. The two most senior men at NAMA claim there is a campaign to discredit it underway.

It comes amid claims that the agency leaked sensitive information about a developer and that sensitive confidential information was leaked to vulture funds and that NAMA had purposely undervalued loans to make more money on them for political and PR reasons.

Appearing before the PAC this morning, Chief Executive Brendan McDonagh rejected all of the allegations and insisted what was happening was a campaign to discredit NAMA.

And Chairman Frank Daly says whatever orchestrated campaign was going on would not work.

The agency denies it could have leaked information about developer Paddy McKillen, saying it never had the information so it could not leak it.

Sensational allegations

Earlier, it emerged on Newstalk Breakfast that a former senior executive at NAMA has alleged widespread breaches of the law within the agency, on the issues of confidentiality and commercially sensitive information worth millions.

Enda Farrell claims multiple high-level briefings and leaking of information from within NAMA to third parties.

In documents, obtained by Newstalk, the former senior executive gives his account of his time at NAMA.

Enda Farrell claims outside parties with interests in property were informed of property price, land value or rent rate information held within NAMA.

TDs on that committee have said it is an opportunity for NAMA to address information put into the public sphere by parties who have an interest in damaging NAMA's reputation.

The former senior executive at NAMA is himself the subject of a garda investigation over his actions.

His allegations have also been made to gardaí and a decision on prosecuting him is outstanding from the Director of Public Prosecutions.