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 David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

There is a difference of opinion on that matter. The process at that point became damaged. Then we had the emergence of two of the three players in the success fee, as we know, seamlessly transferring over to Cerberus. Then we have the so-called letter of comfort that the Comptroller and Auditor General says NAMA should have investigated more. That matter has been gone over as well. That is where this issue of the corruption of process arose.

I have a number of questions on the important issue of decision-making. Who decided to adopt a departure and sales strategy? Who decided to move from an asset-based sale over a time period to the Project Eagle portfolio loan sale?

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