Results 401-420 of 8,073 for speaker:Peter Burke

Written Answers — Department of Health: National Lottery Funding Applications (22 Nov 2016)

Peter Burke: 433. To ask the Minister for Health when the grant under the national lottery grant scheme which was awarded to an organisation (details supplied) on 27 July 2016 will be paid. [36066/16]

Written Answers — Department of Agriculture, Food and the Marine: Basic Payment Scheme Administration (22 Nov 2016)

Peter Burke: 490. To ask the Minister for Agriculture, Food and the Marine when new partnership farmers will receive single farm payments; the reason there has been a substantial delay with all payments made to those who have recently entered into farm partnerships; and if he will make a statement on the matter. [35803/16]

Written Answers — Department of Agriculture, Food and the Marine: Basic Payment Scheme Applications (22 Nov 2016)

Peter Burke: 491. To ask the Minister for Agriculture, Food and the Marine the reason a person (details supplied) has received no basic payment or areas of natural constraint payment to date; and if he will make a statement on the matter. [35804/16]

Written Answers — Department of Agriculture, Food and the Marine: TAMS Applications (22 Nov 2016)

Peter Burke: 497. To ask the Minister for Agriculture, Food and the Marine the status of a TAMS application by a person (details supplied); and if he will make a statement on the matter. [35871/16]

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)

Peter Burke: I welcome Mr. Long and thank him for presenting to the committee today. The closing price was a £1.24 billion deal. We have been made aware at this stage that first, the data room was managed by the client which was a major organ of the Irish State in one respect and backed by the taxpayer. Second, a verbal briefing was given at an initial meeting between Lazard and NAMA of which we...

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)

Peter Burke: I never said there was no advice. I said there was no advice in terms of strategy. We were told very clearly that Lazard did not invite in terms of the strategy - in terms of when to sell and whether a group of assets should be sold piecemeal or together. There was no advice on that. Second, there was no advice in terms of timing - when to sell. Lazard was given that instruction. Third,...

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)

Peter Burke: So Mr. Long would not see Lazard's approach as advising its client as to whether it had carried out a risk assessment in terms of the procedure or instructions it has followed considering that this was a major sale which could, in theory, expose the Irish taxpayer? In terms of Lazard getting the best value for its client, as a professional adviser, should Lazard not have asked its client at...

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)

Peter Burke: Whether the best outcome was achieved is obviously questionable in light of the report of the Comptroller and Auditor General laid before us. That is open to speculation and is what we must assess. At a basic level, it concerns me that in respect of the process surrounding this and the limitations placed upon Lazard's engagement that Lazard was reluctant to say it should advise a client to...

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)

Peter Burke: So Lazard took NAMA's judgement and proceeded on the basis that it only wanted to sell the asset. Value was not a concern. It just wanted to get the asset sold.

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)

Peter Burke: I understand what Mr. Long is saying. He is saying that Lazard's job was to assist NAMA in achieving its objectives. What I do not understand is how he can put that as one with not questioning the process by which NAMA was constraining itself, which Mr. Long has already said was unusual in terms of the 50 sales in which Lazard has been involved.

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)

Peter Burke: Mr. Long's firm found this to be a difficult 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)

Peter Burke: I have three brief final points. In respect of 13 February when there was a loss of confidentiality, should Lazard not have considered amending the sales approach or advising NAMA to carry out a risk assessment at that point?

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)

Peter Burke: None of the other constraints - for example, the timing in pressing ahead, the strategy of bulking everything together, etc. - changed. Would it not have been prudent at that point to assess the situation? The information had changed and there had been a breach in something that NAMA held dear.

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)

Peter Burke: But Lazard did not ask about it.

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)

Peter Burke: Would it be unusual during an initial consultation regarding such a major deal for a meeting to happen of which we had no written agreement signed by the parties at the meeting detailing what was discussed and what approach was to be taken?

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)

Peter Burke: If something happened to that document down the road or a concern was raised about it, what would be the cornerstone? There would be no record of the initial meeting.

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)

Peter Burke: I am not saying that it is, but is it not good business practice to put adequate safeguards in place when having an initial meeting and putting a document together? A detailed note should have been taken of the initial meeting. I am concerned about this but Mr. Long does not seem to be concerned.

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)

Peter Burke: Lazard, as adviser, was a party to the initial meeting. We are trying to assess what NAMA and Mr. Long's company were thinking at the time. Lazard put together a document on foot of the conversations that were held but it would be good practice and ensure that all parties were safeguarded to have detailed and clear minutes of the meeting, given that it had such a high profile and involved...

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)

Peter Burke: Mr. Long believes that it should have.

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)

Peter Burke: If Mr. Long was doing it all over again, surely he would agree that this would be good practice. That is a straightforward question. We are discussing putting adequate safeguards in place.