Results 5,781-5,800 of 26,408 for speaker:David Cullinane
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: I have to interrupt. I find it incredible. When NAMA was here, we were subject to much discussion about the lack of expertise in the Comptroller and Auditor General's office about how things work and market sales. This is not about whether or not it would have materialised. At a point in time, one arrives at a value, which is based on the value of the assets, income generated from the...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Ms Nolan has missed my point entirely. I do not know whether it was deliberate or because she genuinely did not understand what the Comptroller and Auditor General has said. NAMA worked out the value of €1.49 billion that was based on a sales strategy to work out the assets over time by 2020. Not that one would sell them in 2020 but work them out over time. Then there was a...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: I refer to all of the difficulties that the Department talked about.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: NAMA also talked about difficulties with debtors and pressures that justified its change in sales strategy. I do not know whether a briefing note is on the system here but I referred to it this morning. The briefing note is dated 6 November 2013 and the reference No. is 2292015. It was sent by Mr. Martin Whelan of NAMA to Mr. Declan Reid and the NAMA communications team. The note was...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: I understand.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Ms Nolan talked about a different set of pressures, NAMA talked about a different set of pressures but everybody is talking about pressures that NAMA was under to sell. The claim does not stack up, as no evidence has been presented to the board.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: When it was put to Ms Nolan about probable loss and the conclusions that the Comptroller and Auditor General reached, she talked about them being theoretical issues.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: I do not understand how the Comptroller and Auditor General can characterise them as theoretical issues. Can Ms Nolan clarify the matter for me again?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: That is not what the Comptroller and Auditor General did.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: No. It cannot be a theoretical loss because there was a loss. The Comptroller and Auditor General talked us through it this morning. In 2013, NAMA identified a loss of €113 million and I think it booked a loss in 2014, if my memory is correct. Are the tables available on screen?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: It is €168 million.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Can the table be shown on the screen? What notes were the tables in again?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes. Our point is that that is the role and the job that the Comptroller and Auditor General was asked to do, to look at the-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: It is not simply a theoretical loss. When the Comptroller and Auditor General is looking at the probable loss, it is in the context of a change in sales strategy. It is in the context of documents that were presented to him by NAMA that did all of the calculations, at the time, in respect of the previous sales strategy. NAMA would have looked at the values of the assets, what one would...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes, and we can see the discount rates for 5.5% and 2.5% for-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
David Cullinane: Yes.
- Written Answers — Department of Education and Skills: Minor Works Scheme (15 Nov 2016)
David Cullinane: 212. To ask the Minister for Education and Skills if the minor works grant for a school (details supplied) is due to be paid in November 2016; if his attention has been drawn to the concern the uncertainty is causing in relation to the staff, students and parents of the school; and if he will make a statement on the matter. [34511/16]