Oireachtas Joint and Select Committees

Thursday, 1 October 2015

Public Accounts Committee

National Asset Management Agency: Financial Statements 2014 (Resumed)

10:00 am

Mr. Frank Daly:

No, it would not have been known. We would engage with Lazard, which was managing the sale process. We set the reserve price based on our own analysis of what each individual asset or loan was worth. We allowed Lazard to convey that to the people who were interested, for the reasons I outlined earlier that one does not want people wasting millions, actually, in due diligence if they are not going to be anywhere near the reserve price.

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