Results 4,341-4,360 of 4,491 for speaker:John Perry

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: I think that it is very important that we do not damage the process and that parties are given a fair hearing. We should not act as judge, jury and executioner with regard to the integrity of NAMA which took over a basket case when it was set up. It also took over a basket case of properties in Northern Ireland, many of which were valueless at the time. What types of properties are we...

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: That is our motivation too. I have no doubt at all about the integrity and transparency of NAMA. I would have concerns about people coming into Dáil Éireann, being fed information and then making allegations without being prepared to substantiate what they are saying. Mr. McKay's committee asked Deputy Mick Wallace to meet it. The committee members are here in Leinster House...

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: My interpretation of what Mr. McKay has said is that there was collaboration between the seller and the buyer with regard to the Project Eagle properties in Northern Ireland. NAMA was selling the properties and the purchaser was a consortium which did what it had to do to put its bid together. It is a major leap to conclude that there was complicity but that appears to be the underlying...

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: However, Mr. McKay must remember that if the Public Accounts Committee in Northern Ireland is conducting its inquiry on the due diligence of the sales, there obviously is a PSNI inquiry to ascertain whether there are irregularities or criminal issues that have been raised. This is not a quick-fix solution if one looks at the documentation regarding accountability and if one considers the...

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Would it not do so? It is easy enough to indicate the relevance of the locations, whether they are small businesses or otherwise, and the type of property. One would imagine one would have a portfolio, if the committee is conducting an investigation on the magnitude of this sale.

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Obviously there is the seller of the portfolio and the purchaser. I have no doubt but that the long-term ambition of the potential purchaser of these properties is to get a return on its investment and, undoubtedly, there will be some off-loading of the properties but I refer to the integrity of NAMA. One must be very careful on the international stage that due process is taking place at...

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Would that not lead to a certain concern on Mr. McKay's part that its credibility would be questionable? If one makes an allegation with impunity and-----

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: I refer to the point made by Deputy Deasy, as I am a great believer in finding the information first. Was there not potential for seeking a meeting with NAMA at head office? While it is important to have it in the public domain, did Mr. McKay seek a meeting with the board of NAMA to discuss the Northern committee's concerns?

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: The due diligence on the property is important and I am a great believer in ascertaining the location of the properties. As I note the Northern property market has been flat compared with the increase in property prices here, can Mr. McKay compare property values in the North with those in the Republic?

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: But he is making-----

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Has Mr. McKay's committee sought the due diligence report from the potential bidders in respect of the properties?

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: It is amazing that it would not.

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: It is an important point. It is amazing that the Northern committee has not sought the due diligence in respect of each property that is on sale because I have no doubt but that a report is drawn up on each property by the potential bidders.

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: There appears to be a lot of non-co-operation with Mr. McKay's committee, if potential bidders are non-co-operative and Deputy Wallace is not co-operating. Is it correct that NAMA is not alone in not appearing before the Northern committee?

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Does Mr. McKay's committee not have powers of compellability?

Public Accounts Committee: Northern Ireland Assembly Finance Committee: Discussion on NAMA Project Eagle Sale (1 Oct 2015)

John Perry: Does his committee in Northern Ireland not have powers of compellability to bring in those witnesses?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

John Perry: I welcome Mr. Daly, Mr. McDonagh and the team from NAMA. I was somewhat astonished by the comments made by Deputy McDonald in regard to the integrity of the board of NAMA due to the allegations made. They were quite outrageous. I am even astonished by the assertion made by Deputy Ross regarding integrity and his assertion that the taxpayer did not get a deal. I think NAMA has been...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

John Perry: It is important to put on the record and duly recognise what an extraordinary achievement there has been in a relatively short period. The property market has improved in the past year and a half but it was on the floor in Dublin, Galway and Cork and in various locations in Northern Ireland. NAMA has reasonably sold its loans as a job lot in order to do a deal and to get its cheque within a...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

John Perry: With NAMA being ahead of schedule, what is the estimated saving on interest payments to bondholders? What does Mr. McDonagh feel will happen in the future? I see that NAMA has developed a lot of public-private partnerships and joint ventures, as against sales. Does he see the role of NAMA changing to one where it can stimulate jobs rather than selling property, on account of the liquidity...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

John Perry: Public private partnerships could stimulate NAMA properties.