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 appreciate that. I am only informing the Minister of what went on last week. We established last week that if we were selling two or three bed semi-detached houses in Limerick for a small developer in the Minister's constituency for €200,000, three valuations would have to be provided to go into NAMA. NAMA would assess the valuations and pick the one it thought best and typically would add a sweetener. That is how it would determine the sale price. Would it be a cause of concern that this did not happen when it came to the largest property transaction in the history of the State?

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