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

We need to know this.

My broader point is this. The witnesses are members of the board. They take their commitments under section 10 and section 18, to act faithfully with due diligence and act responsibility, to heart, but there they are, at the end of a telephone line and they are told a decision is needed, asset recovery is recommending Cerberus and, by the way, it was checked out and it has a fee arrangement with Brown Rudnick and Tughans. How on earth did the board agree to this? I know it looked for subsequent confirmation, but was it wise?

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