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. Oliver Ellingham:

All we were trying to do was to sell some assets for a particular sum of money in order to pay down debt.

We had an assurance that provided we got over €1.3 million, that was the right price in the marketplace and the buyer was capable of buying it. For us, it was a commercial transaction and in terms of Lazard opining on the mathematics of the situation, we did not think it was relevant for it to be told why PIMCO had withdrawn.