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 Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

As Mr. Reid said, it is not unusual for advisers working for a bidder who is out of the process to try to hitch up with somebody who is still in the race. That is Mr. Reid's understanding and he said that. Consider the switch of Tughans and Brown Rudnick. Mr. Reid might not be able to comment on this, although he might because he seems to know quite a bit about these issues. Those organisations had not got access to the data room on behalf of Cerberus. Surely it would have been very unethical for them to bring to Cerberus any information they got when they were working for PIMCO. Therefore, what were they bringing to Cerberus? Is Mr. Reid saying they could have brought information I believe they should not be allowed to bring? What were they bringing to Cerberus? Mr. Reid must have been a little surprised at the end of the day when they showed up with the other bidder? Does he understand the question I am asking?

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