Results 5,961-5,980 of 19,173 for speaker:Shane Ross

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

Shane Ross: It was, basically, a political appointment.

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

Shane Ross: That is a political appointment, is it not?

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

Shane Ross: Mr. Frank Cushnahan and Mr. Brian Rowntree were reappointed in 2012.

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

Shane Ross: What procedures were gone through to reappoint them?

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

Shane Ross: I think they were appointed by the two Ministers. It is important to know that because they are very controversial people. Why did Mr. Frank Cushnahan resign?

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

Shane Ross: Did Mr. Daly accept that?

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

Shane Ross: The next time Mr. Daly heard about him was when he was getting an acquisition fee.

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

Shane Ross: On what date did that occur and how long was it after his resignation?

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

Shane Ross: For how long had he been working for PIMCO? What was his acquisition fee?

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

Shane Ross: Wow.

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

Shane Ross: A fee of £15 million.

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

Shane Ross: When did Mr. Daly find that out?

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

Shane Ross: It told NAMA at the time.

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

Shane Ross: It is just another startling fact in this process and suggests something very odd was going on. I would have thought the sequence and accumulation of events would have made you guys say, "This thing stinks. We had better start again." There was £15 million to be split and this individual would get a certain amount of it. Did the board discuss pulling the tender?

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

Shane Ross: Was NAMA paying such fees? Obviously, it was not paying finders' fees. It did not pay fees on that scale to Hogan Lovells, did it?

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

Shane Ross: Did Mr. Daly not think there was something a bit odd about this? There was an awful lot of money slushing around in the system. Did he not ask, "What are the guys who are doing the bidding up to?"

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

Shane Ross: Is there any possibility PIMCO could have been a stalking horse for anyone else and that that withdrawal convenienced another bidder?

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

Shane Ross: Their withdrawal would, however, have convenienced other bidders. If one was another bidder in that situation and one of the biggest beasts in the world pulled out, one would be quite pleased.

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

Shane Ross: I will ask further about Mr. Cushnahan. He is a controversial character. Is that not correct? When NAMA appointed him, at least technically, was it aware that there had been a report of the Northern Ireland audit team covering some of his activities on the Northern Ireland Housing Executive?

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

Shane Ross: It had not been issued by then. I am talking about the reappointment.