Oireachtas Joint and Select Committees

Tuesday, 18 October 2016

Public Accounts Committee

Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)

10:00 am

Mr. Brian McEnery:

We went on to say that the adviser should "undertake appropriate marketing to suitable targeted bidders with the financial wherewithal and appetite to purchase such a portfolio and capacity to perform in a timely manner, with a timeline as recommended by the advisor". That was the decision of the board. It was different and it was bespoke. I think that has been recognised and stated by the chairman and chief executive. It is also important to say that a request for a closed process was refused. That request was made on a number of occasions, but it was refused by the board. The advisers were appointed. Then there was a list of nine parties who would have been deemed to be credible as counter-parties.