David Cullinane (Waterford, Sinn Fein) | Oireachtas source

If Mr. Daly believes PIMCO and that is what happened then we had a situation where somebody within NAMA, even though it was the NIAC, and Brown Rudnick and Tughans approached PIMCO. Much of the criticism of the process by the Comptroller and Auditor was that there was a sharp deviation from standard sales practice. There was a shift from a work out of the assets to a loan sales strategy and all of that happened because Mr. Cushnahan, Tuvi Keinan and Mr. Coulter conceived a business opportunity that they would financially benefit from and they brought that to three bidders, according to PIMCO, and it was one of them.