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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Will Mr. Daly just listen to my question? He knew Mr. Cushnahan personally.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Did it come as a shock to Mr. Daly-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Why did the agency not write a letter to him when the shocking news came out that he was going to benefit? He had been a member of the Northern Ireland advisory committee. Why did Mr. Daly not follow up with a letter to him, at the very least?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Looking back, knowing what we know now, does Mr. Daly believe he should have done something differently? I acknowledge that I am asking with the benefit of hindsight and having seen the "Spotlight" programme.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: I refer to any action Mr. Daly, as chairperson of NAMA, saw fit to take in respect of Mr. Cushnahan when he made the discovery.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: I understand all that and Mr. Daly has confirmed it. I am asking him whether, knowing what he now knows with the benefit of hindsight, he has learned that perhaps he should have done more.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Absolutely, but it is still a legitimate question.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Mr. Daly is consistently-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: He is sticking to it. Let me ask about the political background to this matter.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: I am going to finish on the political background. I am sorry, but it is important and I have waited. When Mr. Daly gave evidence to the committee on another occasion, he referred to political considerations. On 9 July, he said, "no pressure from any source ... political or otherwise," influenced NAMA in the decision to sell the loans. That was his position. Today he has stated: "The...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Yes. Mr. Daly points out to the Minister that the sale of Project Eagle was in accordance with the policy of accelerated deleveraging. Is that correct?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Was that political?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: To the Committee of Public Accounts.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Mr. Daly said there was "no pressure from any source ... political or otherwise."

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: Is Mr. Daly standing by that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: I understand the distinction Mr. Daly is making. However, a record of minutes from way back, 14 June 2013, states: "Just a short note on the meeting yesterday afternoon between Sammy Wilson Minister for Finance of Northern Ireland and Minister Noonan". Point 2 reads:Min Wilson raised concerns about NAMA's operations in the North and its commitment to retaining [...] staff based there. He...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: It is referred to here as the Northern Ireland advisory committee.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Catherine Connolly: The name Declan Reid is at the top; Gary Hynds sent it to Ann Nolan and others.

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