Results 4,441-4,460 of 10,573 for speaker:Patrick O'Donovan

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: The NIAC is now defunct and the sale had a potential impact on the economy of Northern Ireland. Does Mr. Daly understand where the committee is coming from in terms of trying to see why the committee members might want NAMA to go before them?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Does Mr. Daly accept that it would be a reasonable request for the committee to ask NAMA to go before it?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I will come back to that in a moment.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I accept that. I will come back to this in a moment, but I wish to focus on how such a refusal would be perceived. I accept the statements of Mr. Daly and Mr. McDonagh, but as previous speakers indicated, in particular Deputy Deasy, I believe the loss of €280 million is something on which the taxpayer would expect us to drill down. I wish to focus on how the matter has been handled,...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I accept that, but to return to the Northern Ireland finance committee’s request and the Brown Rudnick letter to the then Minister of Finance and Personnel in Northern Ireland, on the bottom of page 2 the partner who signed off on the letter said: “On a personal note and by way of further background, I personally had responsibility and initiated the very first loan portfolio...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I know but it is part of the package.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Does Mr. Daly accept that the Northern Ireland finance committee has a role in relation to this overall package?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Would it not be in the interests of the process for Mr. Daly to engage with the committee?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Could I ask Mr. Reid a question? He referred earlier to the correspondence. I am not sure whether that was before or after the phone call to which he referred.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Was that the only piece of correspondence that had been received from the First Minister of Northern on the matter?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Were any preferences expressed in terms of how the portfolio should be dealt with?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: No, was any preference expressed by the then Northern Ireland Minister of Finance and Personnel as to how the matter should be dealt with or as to who should be preferred, for instance?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I accept that, because in the third paragraph of the letter that was received by the Department of Finance from the then Northern Ireland Minister of Finance and Personnel, Mr. Wilson, he said “Subsequent to those discussions, I have received the enclosed letter from Brown Rudnick, who will be known to NAMA. They were instrumental in introducing me to two potential investors in the...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Is that the only correspondence that was received by the Department of Finance here from Mr. Wilson in relation to this matter, or were there follow-up conversations from him?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: Could I ask Mr. Daly whether NAMA received any correspondence or representations from the Northern Ireland Department of Finance and Personnel on the matter?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: In relation to what Mr. Reid said where the letter dated 24 June 2013 was subsequently replied to on 25 July 2013 where this jurisdiction's Minister for Finance referred it on to NAMA. Did NAMA receive any further correspondence from the Department of Finance and Personnel in Northern Ireland?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: It did not discuss specific debtors.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: I accept that.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: So there was no specific correspondence from him.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (9 Jul 2015)

Patrick O'Donovan: We do not know, with regard to his letter in respect of the two potential investors, if either was the successful party at the end of the day.