Results 6,701-6,720 of 20,884 for speaker:Alan Kelly

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: In other words, Mr. McCarthy agrees with the reports because of the premise on which NAMA asked them to do the reports.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: That is the reason the contradiction stands.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: On what Mr. McCarthy is saying about Mr. Cushnahan, is it fair to say that NAMA did what it was obliged by law to do in respect of dealing with the information that came out about his role rather than what was prudent and right?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: In a similar way to the treatment of Mr. Cushnahan, Cerberus gave an assurance, in respect of the success fee and payments, that nobody from NAMA would be paid as a result of this. Is it fair to say that legally it was covering itself but did not extend that to other third party payments, such as a step-down payment possibility to people who had some association with NAMA? Was it covering...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Within the report, Mr. McCarthy refers to the assurances given.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Does Mr. McCarthy feel those assurances were robust enough?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: On Lazard's role, which is central to our discussion, it seems incredible that a company was paid £4.5 million for this project but was not asked to do any analysis or work in respect of portfolio evaluation or the sales process at the beginning, and was not provided at the end with information about the process by which PIMCO pulled out or the integrity of the process and decision...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: That is very interesting. Compared with Project Arrow and the other one, proportionately the volume of work it executed is much smaller. Would it be fair to say that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: NAMA is constantly challenging advice and external advice, which is not something I necessarily agree with. I am intrigued, however, that when Mr. McCarthy tendered for external advice, he got only one and there was a potential conflict, which is fair enough. It is quite incredible that there was only one. Was the tender too restrictive? Is there anything we can learn from that? Did Mr....

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: It is a very short list to choose from.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I need even shorter answers. It might almost be a quick-fire round. In respect of what Deputy MacSharry said earlier, I was one of the people who got a telephone call and I do not believe it was anything to do with logistics. I just want to put that on the record. I believed it was a formal briefing and, to this day, I believe that by the look of things, it was a selective briefing. In...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Does Mr. Daly believe that-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Does Mr. Daly believe NAMA could have handled aspects of this sale better?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Let us stick to what I am saying here. Does Mr. Daly believe NAMA could have handled aspects of this better?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: So NAMA would do everything the same way now?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: We are interested in the word "tweaking". What tweaking?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Will Mr. Daly provide examples?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: We will leave the sales process. What examples of documentation can Mr. Daly give us?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Very quickly.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I am taking what Mr. Daly has to say as read. It is interesting that Mr. Daly says it because my next question concerns whether there was a belief that this was the right time to get out of Northern Ireland because of diplomatic requirements, political pressure, business risk and the lack of ongoing quality debtor engagement.