Oireachtas Joint and Select Committees

Tuesday, 22 November 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. Patrick Long:

Success fees are commonplace and indeed our fee, or Lazard's fee, with NAMA was a success fee. We got paid on success. Had the transaction not gone through then we would not have been paid. So, yes, success fees in that sense are commonplace.

Chairman:Can Mr. Long clarify whether he was on a success fee?