Oireachtas Joint and Select Committees

Tuesday, 18 October 2016

Public Accounts Committee

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

10:00 am

Photo of Mary Lou McDonaldMary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

I will be concise and I thank the witnesses for their patience. The sequence of events was the NAMA board had met on 11 March and 13 March to hear the shocking news about PIMCO and fixer fees. Whatever the precise chain of events, PIMCO exited and then there was no meeting for about three weeks. Then the board came together again on 3 April. This meeting was for the purpose, on the recommendation of the head of asset recovery, Ronnie Hanna, of agreeing to Cerberus as the preferred and successful bidder. At that meeting-----

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