Oireachtas Joint and Select Committees

Thursday, 17 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. John Corrigan:

No, it was a matter between Cerberus and the two parties the Deputy mentioned. To return to the PIMCO transaction, the board's difficulty was with Mr. Cushnahan's involvement in it, and it was on foot of his involvement that the thing could not be proceeded with. If PIMCO had been dealing with just the other two parties and paying a success fee, it would have been entirely a matter for PIMCO and would not have caused the difficulties which Mr. Cushnahan's involvement threw up.