Results 361-380 of 7,283 for speaker:Josepha Madigan
- 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)
Josepha Madigan: Later Mr. Long said it was kind of irrelevant because PIMCO did not secure the bid anyway.
- 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)
Josepha Madigan: Still, that is quite an important aspect. I do not think NAMA should give preferential treatment to any potential bidder.
- 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)
Josepha Madigan: If Mr. Long's sense or prevailing sense as he said is that NAMA were because it did not want to lose PIMCO. I ask Mr. Long to elaborate on the matter.
- 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)
Josepha Madigan: The matter is very concerning.
- 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)
Josepha Madigan: The transfer expertise of Brown Rudnick and Tughans from PIMCO to Cerberus seems unusual to me. Has Mr. Long seen that happen before in anything like this?
- 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)
Josepha Madigan: Does Mr. Long believe it conferred unfair advantage on Cerberus?
- 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)
Josepha Madigan: If Mr. Long were a betting man what would he think?
- 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)
Josepha Madigan: I appreciate Mr. Long's difficulty in answering my question. Are success fees, to Mr. Long's knowledge, standard practice in the industry?
- 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)
Josepha Madigan: How was Lazard's success fee calculated? Was it calculated as a percentage?
- 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)
Josepha Madigan: Is Mr. Long of the view that Lazard's was impartial in the 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)
Josepha Madigan: I note that some firms requested an extension of time but were denied same. They had wanted to carry out due diligence but were refused an extension. NAMA, subsequently, agreed to extend the time by two weeks for the two remaining firms - Cerberus and Fortress.
- 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)
Josepha Madigan: Why was an extended time granted to the two firms and not others?
- 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)
Josepha Madigan: Does Mr. Long thing there was a concern that the key player was gone and, therefore, other firms would have had insufficient time to prepare their bids?
- 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)
Josepha Madigan: Did NAMA ever discuss why it wanted to keep the sales process confidential?
- 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)
Josepha Madigan: How realistic would it have been to keep it confidential?
- 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)
Josepha Madigan: I understand some of the firms were not allowed to use local advisers and valuers.
- 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)
Josepha Madigan: What is Mr. Long's view on that?
- 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)
Josepha Madigan: What about the fact that PIMCO, Brown Rudnick and Tughans could have been using local valuers until that time? They did not sign the non-disclosure agreements with NAMA until October or November 2013.
- 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)
Josepha Madigan: Does Mr. Long accept any shortcomings on behalf of Lazard in terms of the unusual practices? Would he accept there were unusualities in this 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)
Josepha Madigan: What would Mr. Long do differently? It is not a hypothetical question. Would he like to see those unusual practices eradicated?