Oireachtas Joint and Select Committees

Tuesday, 25 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

Let me cut to the chase here because maybe Mr. Collison is politely side-stepping what I am thinking. It strikes me in this singular focus on the debtors in the North that it would have been in the interests of persons with connections with those debtors in the North perhaps to have had them bundled up and acquired by an appropriate entity. It strikes me as odd when one considers that Mr. Frank Cushnahan - as we now know, it is not a matter of dispute - had a relationship with debtors up to the tune of 50% of the value of Project Eagle. He was debtor-focused. He had that relationship there. This strikes me as odd. It is even more odd since we have now established, with the help of Mr. Stewart and his note, that Brown Rudnick, the legal firm, approached PIMCO with this idea. It would be interesting to know if Brown Rudnick had the idea of focusing on the debtors in the North. Have we invited them in, Chairman?

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