Oireachtas Joint and Select Committees

Thursday, 8 October 2020

Public Accounts Committee

Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019

11:30 am

Photo of Matt CarthyMatt Carthy (Cavan-Monaghan, Sinn Fein) | Oireachtas source

I want to return to this notion that the director of Avestus was handling the sale on behalf of NAMA or was, at least, advising it and was also a director of Clairvue which was the ultimate purchaser. There are two subsections to my question. The reason we know or became aware of this was that a former Deputy, Mr. Mick Wallace, informed the House of that information. Was NAMA aware of that before it was conveyed to the House or was that the first time Mr. McDonagh heard of it?

I hear what Mr. McDonagh is saying with regard to changed procedures over the past number of years and we welcome that. I hear what Mr. McDonagh is saying when he says he hopes it will not happen again. However, have NAMA's procedures and processes changed to a degree that at least there is an effort or a mechanism in place by which there is an attempt to identify whether people are working for, advising or facilitating purchasers of portfolios who might have some form of insider information?

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