David Cullinane (Waterford, Sinn Fein) | Oireachtas source

Let us come back to record 3 of the information we received today. It is my last line of questioning. It states in record 3, "TR [Tom Rice] said the [Project Eagle] process had been with NAMA for several months referenced April/May 2013. This development went back to the origination of the deal with Pimco and the proposal for an acquisition fee". I am presuming that is the success fee. It continues, "The proposed split was mentioned some time ago and enquiries were made and it was looked at in more detail in the second half of 2013". Again, this is very confusing. It seems to suggest that NAMA would have known about this in 2013. It then goes on to say, "Once the amount was queried it became evident the payment was to be split 3 ways and clarification was sought from the firms afterwards".