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:

It is covered in the Comptroller and Auditor General's report. There was an obligation on Cerberus to notify us and get our consent and to put in place an NDA and to provide us with a copy of it, with Brown Rudnick as strategic advisers, before there would be a release of informational materials to them. It has said to us, for example, in the letter today, that by its analysis, and Mark Neporent was clear on this, it has identified three technical breaches, in other words three items that it considers fall within the definition of informational materials, that went to Brown Rudnick without its first having got our consent and an NDA put in place with Brown Rudnick.

That is really what he is saying in the letter today. We have asked if there are any other instances of that, as has been explained.

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