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
Seán Fleming (Laois, Fianna Fail) | Oireachtas source
So there is a risk on the company's behalf, whether or not it is going to get paid at all. In fairness, that must be said because Mr. Long is assisting. Given those levels of restrictions that NAMA put on the process before Lazard arrived on the scene, was it fair to Lazard that it had to operate on a no foal, no fee basis, as we would describe it here. I can understand if a person was going to sell a product, loans or assets he or she would take the risk if it did not sell, but Lazard was going into a process that had been so constrained before the start that it was difficult for it to enter that. Did the Mr. Long have an issue with that?
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