Results 5,981-6,000 of 19,173 for speaker:Shane Ross

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

Shane Ross: Yes, it was issued after the reappointment, but it was absolutely damning of his activities. I think I am correct in saying some of it involved property transactions.

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

Shane Ross: Did anybody speak to him about it?

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

Shane Ross: It was just ignored.

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

Shane Ross: One of them resigned immediately from the Northern Ireland Housing Executive.

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

Shane Ross: Despite that report it was thought he was a suitable member of the advisory board.

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

Shane Ross: What use would he have been to PIMCO then?

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

Shane Ross: How much of the £15 million was he getting?

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

Shane Ross: So Mr. Daly thinks he was going to get £5 million. They were not paying that for a guy without any knowledge of what he was doing, were they?

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

Shane Ross: What were they paying him £5 million for?

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

Shane Ross: They would not pay it to Mr. Daly or me. Well, they might pay it to Mr. Daly, but not to me.

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

Shane Ross: It is mind boggling that they would go and ask a guy to act for them and pay him an acquisition fee of £5 million if he was just an ordinary Joe Soap off the street who did not know anything about the property portfolio. He had an office-----

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

Shane Ross: Mr. Cushnahan had an office in Tughans, did he not?

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

Shane Ross: Did that worry Mr. Daly?

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

Shane Ross: But Mr. Daly knew that he had an office in Tughans at the time that the bidding was going on.

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

Shane Ross: Yes.

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

Shane Ross: Did that not set alarm bells ringing again?

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

Shane Ross: Yes, but there was a link.

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

Shane Ross: That was during the bidding process. The bidding process was under way when you heard about it.

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

Shane Ross: That is what I am trying to say.

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

Shane Ross: I know. I am not saying that NAMA acted dishonourably, I am saying that that was just another factor which should have made Mr. Daly realise that the whole process was flawed, that there was something wrong at every turn and something suspicious going on. At that stage I would have thought that Mr. Daly might have been worried about the price that NAMA was getting at the end because there...