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:

It is a virtual data room. It is a secure system set up through an independent body. We retain the services of Interlink, a global firm that provides these services. It is very secure. All of the information is uploaded to the data room by whoever controls the room. In this case, NAMA would have controlled it. Hogan Lovells would have had authorisation to upload all of the legal documentation and Lazard would also have had the same access rights as NAMA. We then would have granted particular access to the investors or prospective bidders and they would be able to access all of the information. They could see exactly what we were uploading to the data room. We were doing that incrementally and in reality we probably ended up providing more documentation than some of the bidders were expecting over the period. They would get notification by e-mail each time when new documents were uploaded to the data room. Maybe Mr. Stewart could give a flavour -----

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