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. Alan Stewart:

Absolutely. Pimco asked whether we were aware of this. We immediately said "No", which was the reaction of Mr. Hanna and I. We were not aware of this. From there, the call went into a question about how Pimco became aware of it. We were talking to the legal team in Pimco - nobody from the commercial side. The legal team told us in broad terms that it had become aware of it when it first started looking at the letter of engagement with Brown Rudnick. That is when the three-way split came to light. The call concluded. I will refer periodically to my notes. They are based on handwritten notes of the call. I think the committee has a copy of them from what was provided last night-----

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