David Cullinane (Waterford, Sinn Fein) | Oireachtas source

I will be seeking the assistance of Mr. Daly and Mr. McDonagh to better understand two sets of minutes of the NAMA board. I will go through one set of the board minutes line by line because I want the witnesses to address my confusion over them. Before doing so, I seek clarification on one issue on the sale price before I get back to the conflict of interest.

At any point in the NAMA board papers or minutes is there a clear and express statement on the financial difference between the minimum bid value of £1.3 billion for the sale of the Project Eagle loan portfolio and the projected net current value of an asset by asset work-out as assessed by NAMA at the time, whatever it might be? I ask Mr. McDonagh to respond first.