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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 (Resumed) (24 Nov 2016)

David Cullinane: No. I am asking for the board's view and not the personal view of Mr. McDonagh.

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 must press Mr. McDonagh on this.

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: Sorry. My question was quite precise because I am not interested in a long answer.

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: Please bear with me, Mr. McDonagh. My question is very specific because I am trying to follow the logic. What was Mr. McDonagh's view of the board's understanding of the timeline-----

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: -----of Frank Cushnahan's involvement with Brown Rudnick and Tughans on the date of 13 March?

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 ask Mr. McDonagh to answer my question.

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: Why then does the reference in the minutes say "and noted further that Frank Cushnahan had not resigned as a member of the Northern Ireland Advisory Committee until 7th November 2013 nor had he made any disclosure of his involvement"? If that was the view of the board, it would not have put that in there.

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 I am to believe that response and what Mr. McDonagh has just said that at this meeting he was aware of the three-way split between Brown Rudnick, Tughans and Frank Cushnahan. He was also aware of the previous association of Mr. Cushnahan with six debtors. He then said he formed an opinion that his relationship started with Tughans and Brown Rudnick after he was a member of the NIAC. The...

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 not talking about Mr. Hanna.

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. McDonagh is telling me that his understanding is on the basis of the information he gave but what I am trying to establish is-----

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: With respect, the knowledge Mr. McDonagh had at that time on 13 March at that meeting was that there was a three-way split that involved Mr. Cushnahan. He had an association with debtors. Mr. McDonagh then says he formed a view that any association with Brown Rudnick and Tughans was when he left. The concern would have been that surely there was a possibility that he had an association...

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 giving Mr. McDonagh my view.

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 just giving my view.

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 also the view of the minutes.

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 my clear interpretation of the minutes.

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: With respect to the Chairman, I try to be very-----

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: -----exact and precise in following the logic of minutes. The logic, in my view, overwhelmingly shows that was the case. To add to that, if we turn to page 116 of the Comptroller and Auditor's report-----

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.

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.

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 bring Mr. Daly to page 116 of the Comptroller and Auditor's report, which is the minutes of 11 March 2014. Have we got that up?

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