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:

I do not think they would have engaged with us. However, that is not a legal opinion. We got, from the chief counsel of Cerberus, a very clear, unequivocal statement that Cerberus was not making a payment to anybody connected with NAMA, that Brown Rudnick were not doing it and that Brown Rudnick had given them undertakings to that effect, and that Tughans were not doing it and had given them undertakings to that effect. This is down, at the end of the day, to a statement that we got in writing from the chief counsel to Cerberus. I do not think it is credible that somebody of that stature in an organisation such as Cerberus would have given us that unless it was an absolute letter of comfort to us. We had no reason to question that.

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