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

Mr. John Collison:

Exactly. There were many more products in the marketplace. Equally, market conditions were starting to improve. Some buyers had set up platforms in Ireland. They were certainly targeting Ireland as an area in which they could transact and do business. Many of them were American firms, so there was no language barrier. They liked the legislation. Combine this with the level of activity in the marketplace. The market knew that IBRC's special liquidators were going to be bringing a great deal of debt to the market. Obviously, we were deleveraging as well. There were many more opportunities for purchasers.

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