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

Photo of Catherine ConnollyCatherine Connolly (Galway West, Independent) | Oireachtas source

Clients move from solicitors all the time. That is correct. In this situation PIMCO withdrew under a cloud. There is a disagreement between NAMA and PIMCO as to the nature of that, although the record is quite clear, I think, that PIMCO sets out that it brought it to NAMA's attention. There is a different context here of a solicitor moving on, from the bidder that withdraws under a cloud to the bidder who is successful. It does not disclose it to NAMA. The witnesses are not clear today that there was an onus the solicitor to disclose it to them. Perhaps that can be checked out with the non-disclosure agreement which appears to be broader than the data room but we do not know because we have not seen it. There is a difference. I apologise to Mr. Stewart, I interrupted him.

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