Oireachtas Joint and Select Committees

Tuesday, 22 November 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. Patrick Long:

Yes indeed. I cannot remember precisely how we notified them, but they certainly became aware of it. The Chairman will recall that advisers, apart from Brown Rudnick and Tughans, in the form of NewRiver Retail and Cushman & Wakefield joined Cerberus and Fortress, respectively. Cerberus and Fortress certainly knew that PIMCO had withdrawn. I cannot quite remember precisely how they became aware of that information. While at one level it might have been convenient for us - for NAMA - for them not to have been aware of it, at the same time we were trying to run a fair and transparent process. I do not believe PIMCO's withdrawal demotivated PIMCO; if anything it might have-----

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