Oireachtas Joint and Select Committees
Thursday, 20 September 2018
Public Accounts Committee
National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report
9:00 am
Mr. Brendan McDonagh:
I understand the question but the reality is that we had to sell assets as we went along and get the best price we could at the point. The assets we spoke about earlier were an exception to the rule unfortunately. Even if we had held on to many of the assets, in different parts of Ireland, they would not have recovered to the extent that they could have paid off much more debt than they did. They had no hope of ever paying off the prior debt.
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