Results 20,741-20,760 of 26,793 for speaker:David Cullinane

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: This is the point. If I was a board member and I was in the position of the NAMA chairman I would want to know the date explicitly in order to be absolutely clear that when the association first arose, the person was not a member of the NAMA Northern Ireland advisory committee. Mr. Daly is telling me that he did not get that. NAMA asked the question but did not get the response.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: NAMA asked the question directly. Mr. Daly is telling me that the direct question was asked to PIMCO about at the point at which they initiated contact with Frank Cushnahan.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: I find it extraordinary that not one of the NAMA board, chief executive or chairman would not have established exactly from the PIMCO representatives on 10 or 11 or 12 March when they first had any contact with Frank Cushnahan. If they did not get that information, then they should have done what I referred to earlier, that is to say, they should have contacted NTMA compliance and brought in...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: My very last point is-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: This is my last point. The suggestion that NAMA did not ask because it may not have got the information is no defence for not asking. I will leave it at that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: I want to clarify this because we have been over it. The question I asked in that context was whether the specific question was asked at that point because Ms O'Reilly says a question was asked. We do not know whether he was asked if he had an association with Brown Rudnick, Tughans and PIMCO when he was a member of the board. We also do not know the answer because there is no reference to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: That is not the interpretation of the Comptroller and Auditor General. He does not have that interpretation in his report.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: We can read it into the record.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: To add to that and to set the record straight on this, I am almost certain that the Comptroller and Auditor General, in responding to this previously, said that the non-disclosure agreement concerned more than just access to the data room.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: Ms O'Reilly said that it exclusively related to access to the data room. That is not the case.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: I know we are all charged and I respect that. I will be very quick.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: No problem. I have a question for Ms O'Reilly. She spoke earlier about the non-disclosure terms. So that we are absolutely clear about that, does she accept that it was not just information that would have been accessed in the data room that was subject to the non-disclosure terms?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: But I am asking Ms O'Reilly-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: However, it may not be. For example, if they had access to debtor information, would that have been included?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: That is helpful. I thank Mr. Stewart for that. I tried on two occasions to get absolute clarity about a particular issue because it blows my mind that it did not happen. I will try one more time but do it in a different way. I will put this question to Ms O'Reilly. According to Mr. Daly, Mr. McDonagh and the board, on 10, 11 and 12 March, NAMA was not in possession of the actual date...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: We may disagree on that. That is what NAMA is saying. Why was that the case?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: The point is that we know that on 10, 11 and 12 March, the board, CEO and the chairman of NAMA were aware of a success fee arrangement between Brown Rudnick, Tughans and Frank Cushnahan, but at no point on those three occasions was NAMA able to acquire the actual date. There had to be a reason for that and the reason was either that NAMA asked for the information and was not given it or it...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: What was the response?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: It does not give any date.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

David Cullinane: If no date was given, why was the follow-up question not asked? Ms O'Reilly has not given us a date. We have asked a very specific question. We want to know the date because Mr. Cushnahan was a member of the Northern Ireland advisory committee and we want to be very clear that there was no association when he was a member. NAMA asked for the date and did not get it. Surely it would go...