Oireachtas Joint and Select Committees

Thursday, 24 November 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

9:00 am

Mr. Alan Stewart:

Will the Deputy bear with me for one moment? PIMCO signed a non-disclosure agreement in October 2013. That non-disclosure agreement required it to ensure all of its professional advisers who included legal advisers observed the exact same confidentiality obligations. Therefore, the onus was on PIMCO to ensure Brown Rudnick, as its adviser, preserved and kept the confidentiality of information or materials, as defined in the non-disclosure agreement, in line with the obligations on PIMCO to do so. It is a mirroring obligation. To answer the Deputy's question, Brown Rudnick did not specifically sign a non-disclosure agreement, but PIMCO's non-disclosure agreement was the one on which we would have relied to ensure its advisers kept the information confidential.

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