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 Seán FlemingSeán Fleming (Laois, Fianna Fail) | Oireachtas source

Not thus far. Will NAMA pass on the correspondence when it receives a response?

There is a chart, on page 77, that I want to ask the witnesses about. For the benefit of people, most of us took it on face value until Mr. Neporent highlighted the matter the day he was here. The chart refers to European sales from 2013 to 2015. Project Eagle was completed at the beginning of 2014. That is using sales that happened substantially after the conclusion of Project Eagle to explain who are the main players, or for NAMA to state it dealt with the main players. It would have been more helpful if we had the European sales from 2012 to 2014. Do the witnesses get the point? Those figures represent activity in the market after the conclusion of Project Eagle. NAMA has used the chart to justify the fact that it brought it in the big players. For all we know, some of those may not have been players prior to the Project Eagle event. Can that chart be reworked? NAMA said it got somebody to produce it for it, Cushman & Wakefield. Does it have a similar chart for the three years 2012 to 2014 that would give us an indication of who the big players in the field were at the time of going to market?

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