Results 8,261-8,280 of 21,498 for speaker:Mary Lou McDonald

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Regardless, Mr. McDonagh does not dispute the fact that it was passed on for considerably more than the price for which NAMA sold it?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Mr. McDonagh has stated that. Our job is to scrutinise these matters.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: This is an isolated individual case. Given the size and the value of the NAMA portfolio it is probably a small matter in one regard, but it does give rise to concerns, I believe, notwithstanding the time lag of a year and a half years or two years. The fact that NAMA sold it at one price and it subsequently changed hands for more than double that price raises questions for people in terms...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: I heard all that. I do not expect Mr. McDonagh to have the gift of seeing into the future; I accept that. However I do not accept Mr. McDonagh saying glibly that no one can predict exactly the right time to sell on an asset. Is that not what NAMA is charged with doing? NAMA is charged with making those judgments.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: I am instancing this transaction. We have discussed previously the fact that NAMA is not an organisation or body that is amenable to close scrutiny by parliamentarians like us because of commercial sensitivities and the commercial nature of NAMA's task. That is what we are told and that is the position set out by NAMA. I am citing this instance and raising a concern around it. Perhaps...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: How does the taxpayer get sight of that data?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Have there been high profile instances where NAMA has sold an individual property or portfolio of properties here or overseas at what transpired to be a greatly depressed level? Obviously, NAMA monitors these things. Has the agency ever entered into a transaction in good faith and with the best judgment available only to discover one year or 18 months later that the same portfolio or...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Does NAMA keep an eye on properties that have passed through the hands of the agency, that have moved from NAMA debtors to others or for which NAMA has had a responsibility? Does NAMA monitor their subsequent movements?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Does NAMA do that in a systematic way?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: I did not say that. That is not the point.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: When NAMA makes that decision, not alone does Mr. McDonagh live with it but we all do.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: As part of the assessment of performance, which Mr. McDonagh referred to in his paper, it would be wise to analyse and track even a sample of those properties systematically as a reference point for performance and to make decisions on the quality of the judgment at which NAMA arrives. Mr. McDonagh laid heavy emphasis in his presentation on NAMA's relationship and dealings with debtors....

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Can Mr. McDonagh remind the committee how many developers are managing assets for NAMA?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Can Mr. McDonagh give us a rundown on the levels of income that those individuals take?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Do those persons get any additional bonuses or incentives?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Is there any proposal to introduce any such scheme for these persons whom, I note, Mr. McDonagh refers to as principals rather than debtors?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: That is true, but that was not my question. I am asking, in addition to those salary levels, is Mr. McDonagh minded, is he considering or has he put forward any proposal to award additional incentives or bonuses to this set of individuals?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Has Mr. McDonagh made such a proposal officially to anyone?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Is Mr. McDonagh planning to do so?

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: These three individuals who are getting a salary of €200,000 might be awarded additional incentives and bonus payments.