Results 14,341-14,360 of 21,489 for speaker:Alan Kelly
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Yes, I have no issue with that. I do not want to repeat questions. However, the Comptroller and Auditor General said in the report that in the context of the data room, which is an interesting topic, no questions and answers were expected. Why was that? Does Mr. Long have any view on that? I know there were 6,000 odd documents but surely the volume of documents would mean there should be...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Was that strange? Compared to other projects of similar size that Lazard worked on, was that normal or abnormal?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: I would have thought so.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: According to the Comptroller and Auditor General, it was fairly definitive. Perhaps Mr. Long can clarify it for us on the basis of his experience in this case. Were there questions and answers from bidders?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: At what scale? This is new information for us.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Again, Mr. Long can come back to us.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: I did not expect Mr. Long would be able to answer it now, in fairness.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: That is fair enough.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Okay. I have two final questions. This is kind of a straight question. Not being asked to value a portfolio like this is, obviously, abnormal I presume.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: How many sales processes has Mr. Long worked on for Lazard?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Yes. Approximately.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: In those 50 cases, how many times has he had to value the sale?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: But it is the norm.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: That is interesting. That is a very important piece of information Mr. Long has given to us. My final question relates to the payments to Brown Rudnick and Tughans or its managing director, Mr. Cushnahan. Obviously, Lazard was not briefed on these.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: If Lazard had to be briefed on it, would it have changed its interpretation of the standard or quality of the marketing and sales process?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: I am asking Mr. Long's opinion. That is all. It is a fact that this happened. It is a fact that Mr. Long's organisation, for whatever reason critical to this process, was not told about it. In other words, in respect of his final conclusions as regards the sales and marketing strategy - an area in respect of which his organisation is a massive player worldwide - Lazard was not told about...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: That is not really it and this is a critical question. I am not asking Mr. Long to say how it would have been different.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: That is technically hypothetical because one could not expect that. There were too many dynamics going on. I just want to establish whether or not it would have been different. For me, it could not have been the same, surely.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: I accept that Mr. Long cannot say.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Alan Kelly: Okay. I thank Mr. Long very much for being so honest.