Oireachtas Joint and Select Committees

Thursday, 9 July 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014

9:30 am

Photo of Joe CostelloJoe Costello (Dublin Central, Labour) | Oireachtas source

I recognise that fact. The Minister for Finance, in his reply, said the way NAMA operates is very much to its credit. He said: "I am advised by NAMA that granting exclusive access to one potential purchaser is not an approach they favour as it militates against achieving optimal value for the assets concerned."

Clearly, it seems that this is the man or company who generated the entire process - the Brown Rudnick company - and that they did this in a somewhat underhand fashion without necessarily anybody else being interested in it, at the time, and not having a second client. Clearly, this was the base they were operating on. At that point in time, Cerberus was not on the horizon and NAMA has no-----

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