Results 6,041-6,060 of 26,430 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) (24 Nov 2016)
David Cullinane: Mr. Daly said in his opening statement that the letter sets out a number of important facts.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Is Mr. Daly accepting they are facts?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: That is Mr. Daly's contention.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Mr. Daly is not contesting that they are facts; he is contesting that he was made aware of it.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: The second one was that what was not disclosed was that Mr. Cushnahan was one of the organisers of the meeting in May 2013 at which PIMCO met with the First Minister and Minister of Finance in the North. Mr. Daly disputes that it was disclosed to NAMA. The third fact that was not disclosed was that PIMCO was approached by Brown Rudnick in June 2013. The fourth one is that PIMCO had sought...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: I will get to that.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: I will get to that. I accept what Mr. Daly is saying but I do not accept it is true. We will come back to that in a second.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: I will come back to it. I just want to finish on Mr. Daly's opening statement in terms of what he said and what he has put on to the record of the committee. He said that "PIMCO’s letter to the committee is materially inaccurate". That is a very strong statement to make because Mr. Daly is aware that this sale is the subject of two criminal investigations. PIMCO made him aware of...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Mr. Daly also contends that he was not made aware of this in March 2014.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: On 10 March 2014 was Mr. Daly then made aware that PIMCO was approached by Tuvi Keinan and Mr. Cushnahan - all of the facts that Mr. Daly says-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: That is what I am trying to establish. Mr. Daly is saying that on 10, 11 and 12 March 2014 he was not made aware of the issues that he outlined in his opening statement. The association that PIMCO had with Mr. Cushnahan-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: April 2013.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Mr. Daly has stated he did not know that. Can page 118 of the Comptroller and Auditor General's report be displayed on screen? It is a copy of an extract of signed minutes of the board's meeting of 13 March 2014.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Mr. Daly can see from the extract that there is discussion where NAMA's legal people had been in contact with PIMCO's legal people. There is a discussion around the potential payment which was going to be split three ways between Brown Rudnick, solicitors, Tughans, solicitors, and Frank Cushnahan. The discussion was in that context. The minutes go on to state: "The Board noted that PIMCO...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: If it just finished in terms of April 2013 that maybe is an interpretation, but the minutes further noted that Frank Cushnahan had not resigned.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: It is not just my interpretation. The problem we have is that PIMCO set out a different set of circumstances. We asked the questions of PIMCO. What is in these board minutes, which is a record of notes that were taken, chimes perfectly with what PIMCO is saying to us in its letter.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Mr. Daly had known.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: I have to clarify this. On 10 March 2014 when NAMA was first made aware by PIMCO of the success fees, Mr. Daly was told about Frank Cushnahan's involvement.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: Yes. Exactly.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
David Cullinane: I am making that point because these are minutes of a meeting of 13 March 2014.