Oireachtas Joint and Select Committees

Thursday, 6 October 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

11:00 am

Photo of Marc MacSharryMarc MacSharry (Sligo-Leitrim, Fianna Fail) | Oireachtas source

I think it is. I feel I established from the questions I put to NAMA that in terms of the process it followed in preparation for this sale, it put its agent in place, having designed the process, and prescribed how the process would proceed. We also established last week the typical process that NAMA would follow when it was selling property. I used an example of selling ten houses in Westmeath and outlined that the typical process would be to source three valuations and three sales proposals from three different sources and that would then inform the decision. This would take place at the point of sale or point of appointment of an agent. Would it be a cause of concern to the Minister if he were to learn that following the presentations last week, the Committee of Public Accounts established that no current valuations were sought or provided to inform this decision by NAMA other than stock valuations that were on file from a date in the past?

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