Results 5,281-5,300 of 14,090 for speaker:Marc MacSharry
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: No.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: The reason I asked the question was to get into the exact question on which Mr. Corrigan had touched. The release of guarantees in a loan sale would have been a factor. Mr. Corrigan has rightly said "it would have affected the value..."
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Will he confirm whether his assumption in making that statement is that it would have affected the value downwards or upwards?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I thank Mr. Corrigan. Has Mr. Mulcahy who has considerable experience as head of the asset management agency and previously in Jones Lang LaSalle ever come across the release of guarantees in any sale by NAMA south of the Border?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I know that Mr. Mulcahy was not, but he has considerable experience in the industry. He was there in the building-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I will ask Mr. Mulcahy about property sales in one second, but for now I would like to ask him whether he would have been aware, even though he was not directly involved in loan sales, of any release of guarantees taking place in any loan or property disposal south of the Border.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: No, I am asking about the release of guarantees taking place as a condition of sale. I will give an example. To Mr. Mulcahy's knowledge, notwithstanding the fact that he was not directly or specifically involved in loan sales, would a memorandum of understanding of this kind ever have been a precondition of the sale of a loan by NAMA to an investment company? Would NAMA have stated, "We...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I have a more specific question. If Mr. Mulcahy was buying a loan book from me, would he ever imagine it being a condition of sale that, as soon as he bought it, he release everybody from their corporate or personal guarantees?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Would he be surprised, or does he think he never heard of that before?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I appreciate that. Equally, Mr. Mulcahy will appreciate-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Would it be unusual or unheard of?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: The purchaser.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: With respect, Chairman, yesterday we heard evidence of a memorandum of understanding-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: It emanated from the Northern Ireland authorities. Yesterday a witness told us that it had ended up with NAMA within three days of a three-way conversation that had included the Minister down here. I am trying to establish whether the people in NAMA knew about it at the time. They have said they did not. I want to take advantage of the fact that we have certain expertise before us and...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I understand that.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I know, but we are not talking to him today.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: All I am trying to find out is whether a memorandum of understanding existed, as far as NAMA is concerned. Mr. Frank Daly has given his view on it but frankly, I do not know. I want to get to the bottom of it. If there was such a memorandum, it would have brought down the value and that is a concern. Mr. McGuinness said that the document went to NAMA but I do not know if that is true....
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: If NAMA had stock or file valuations for assets in 2009 which it was disposing of in 2013 or 2014, would it have been prudent, in terms of best practice, to update those valuations?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: What is the difference?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Okay. So just-----