Michael Noonan (Limerick City, Fine Gael) | Oireachtas source

I did not know about it until very recently, but Mr. Reid has pointed out that in the sale of loan books this can happen quite frequently, because a lot of work is done by professional advisers and it is in the interests of a new purchaser and in the interests of the professional advisers to move their expertise on, but I was not involved and I was not aware of the position. What I was aware of, because I was advised by the chairman of NAMA, was that it had got a statement from the ultimate purchaser, Cerberus, to the effect that it was not in a position whereby it had contracted or promised to pay money to anybody outside normal payments.