Oireachtas Joint and Select Committees

Thursday, 10 November 2016

Public Accounts Committee

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

9:00 am

Mr. Seamus McCarthy:

When we reported previously on the section 226 report, which was around the time Project Eagle was being sold, my recollection is there had been sales and payback of debt in line with the targets set. In fact, they were ahead. The fact that it had access to capital on a lower cost basis meant that it could choose what it would sell at what time. It was put in a position of being able to hold assets and not have to sell them at a loss.