Oireachtas Joint and Select Committees

Wednesday, 24 October 2012

Joint Oireachtas Committee on Finance, Public Expenditure and Reform

Role and Functions of NAMA: Discussion

2:30 pm

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour)
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I thank Mr. Daly and note that Mr. John Mulcahy has joined us. I understand he was delayed for reasons outside his control. Twelve or 13 members are indicating they wish to contribute. I will be vigilant in ensuring that members pursue a line of questioning. If they move to Second Stage statements I will bring their contribution to a speedy conclusion. In regard to the Deloitte & Touche investigation, I wish to ask a number of questions which Mr. Daly may be able to clarify, given the comprehensive statement he has given to the committee. Following the Deloitte report examination does he now know all the recipients to whom the information was leaked? Does he know the full extent of the information revealed and is it the case that the detail of every NAMA property was released in this case? Will he clarify if it was a master spreadsheet of all the loans acquired by NAMA and all the properties acquired by NAMA as security for loans which was leaked, or was the information less than that? Will he also clarify for the committee the estimate of the public loss or gain to third parties on that one transaction of information? Will he tell the committee what procedures were in place which failed to highlight the conflict of interest or the transference of information? Will he outline if the procedures have been rectified?