Oireachtas Joint and Select Committees
Thursday, 8 October 2020
Public Accounts Committee
Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019
11:30 am
Mr. Brendan McDonagh:
Of all the connections that came into NAMA, the most financially complex structures we saw across all debtors were those associated with the Avestus-Quinlan connection. The way these connections were set up structurally involved companies in Ireland, Luxembourg, Holland and Delaware. The financial structures were very intricate, although they were completely within the law. To unwind these connections was going to be very difficult.