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

Photo of Bobby AylwardBobby Aylward (Carlow-Kilkenny, Fianna Fail)
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I will leave it at that, but I take a different meaning from Mr. Rowntree's comments last week. The Comptroller and Auditor General referred to the expected cash from debtors and loan workout value and said that if NAMA had held these loans, it was estimated that it would receive a net £1.68 billion in cash from the Project Eagle debtors between 2014 and 2020. This relates to selling assets in instalments rather than in a loan book sale. Mr. Rowntree said the same. He said he was a professional and that he knew all of the companies in Northern Ireland well. He also said that if the assets had been sold over five years, more money would have been realised. Will Mr. Soffe comment on this? It is important that both witnesses answer that question.