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. Brendan McDonagh:

I will deal with the two points the Chairman raised. The Chairman may want to come in and participate.

I remember this comment - on page 32 - clearly from the time:

With regard to the proposed acquisition of the NI Debtors Portfolio, PIMCO confirmed the following ... PIMCO analysis was conducted by way of reverse engineering NAMA's balance sheet and cross-referencing the publicly available information on NAMA's portfolio.

We did not believe that.

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