Oireachtas Joint and Select Committees
Thursday, 29 September 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle
9:00 am
Mr. Frank Daly:
We asked Cerberus to confirm to us, and gave it a particular aspect we wanted it to spell out, about success fees. It told us that it compensates its acquisitions advisers and consultants using a variety of fee arrangements. The Eagle Project was no different. Some advisers were on fixed fees, some on hourly fees and some, where appropriate, on success fees.
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