Results 9,581-9,600 of 21,499 for speaker:Mary Lou McDonald

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

Mary Lou McDonald: I do not accept the ends justify the means line of thinking of Mr. Daly. The processes in how all of this was done are absolutely essential in terms of people having confidence and demonstrably protecting the public interest. In this scenario Mr. Daly failed to do that.

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

Mary Lou McDonald: I believe Mr. Daly was mistaken, in the first instance, not to suspend the sales process and very wrong in the second not to have alarm bells, just like Big Ben, ringing in his head to say, "Hold on a second - this is a huge transaction; these are huge write-downs of public moneys and so on." Not to have pulled back from it amounted to very bad judgment on his part.

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

Mary Lou McDonald: As I am conscious of the time, I want to raise two questions.

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

Mary Lou McDonald: Mr. Reid has explained in some detail the memorandum of understanding. I appreciate that there was a conversation between the Minister for Finance and the First Minister and, presumably, the Northern Finance Minister.

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

Mary Lou McDonald: I thank Mr. Reid. Mr. Daly described it as a protection for debtors, like a debtor's charter, a kind of opt out clause for all. So that the committee knows, it was not a document of the executive. In fact, at a Westminster committee hearing, when Cerberus was questioned, there was reference to the absence of a memorandum of understanding. It was a discussion point. It is intriguing that...

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

Mary Lou McDonald: I thank Mr. Daly for the clarification. It seems it was on the back of conversations between Ministers, North and South. That is something we should want to get to the bottom of. On Project Jewel, is that what NAMA is calling the sale of Joe O'Reilly's portfolio which includes the national monument sites on Moore Street?

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

Mary Lou McDonald: Who is the lead bidder?

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

Mary Lou McDonald: Is there truth in the word that Cerberus is expressing an interest in it?

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

Mary Lou McDonald: Project Jewel is a very substantial portfolio with which NAMA is dealing. Am I correct in saying this?

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

Mary Lou McDonald: To the tune of what figure?

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

Mary Lou McDonald: It includes very sensitive, historic and important national sites which are valuable.

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

Mary Lou McDonald: Yes, a limited portion of what is-----

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

Mary Lou McDonald: I appreciate that. Can Mr. McDonagh tell me how anybody who has watched these proceedings could have any confidence whatsoever that there has been fair, appropriate and proper dealing on the particular portfolio? Can he understand how people are extremely anxious given what happened with Project Eagle and the prospects for Project Jewel?

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

Mary Lou McDonald: I have to say, respectfully, that that beggars belief and that there is not much-----

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

Mary Lou McDonald: I respect Mr. McDonagh's, but there are much deeper issues that, unfortunately, we do not have the time or the scope today to investigate.

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: For the purposes of clarity, there are, of course, two jurisdictions currently on this island but there is one NAMA. The person who is answerable in the final instance for the behaviour of that State agency is not the Comptroller and Auditor General but, in fact, the Minister for Finance. Second, the Comptroller and Auditor General does not have staff or personnel on the board of NAMA, as...

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: The primary focus of the criminal investigation in the North is on a subsequent sum of money, £7 million, which found its way into a bank account on the Isle of Man. Primary responsibility for the democratic oversight of NAMA is vested in the Oireachtas, the Government and the Minister for Finance. I will put a couple of allegations, or assertions, on the table for the Taoiseach.

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: Pimco flatly contradicts the account given by Mr.. Frank Daly and insinuated by the Taoiseach that it was asked to withdraw from the sales process. It suggests it withdrew voluntarily. In the emerging scenario the Minister and NAMA know that things have gone very badly awry, yet, not only do they not inform the Northern Executive or pull the sales process, they are quite happy to allow...

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: Mr. Cushnahan, appointed by the Minister for Finance, is a member of the Northern advisory committee of NAMA within NAMA's national structure, yet he has a very close relationship with one of the law firms. We then discover he was in line for a kickback of some £5 million.

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: Yes. Are we supposed to believe this was an isolated incident or that this turn of events, this web of relationships, the bad governance and the Minister for Finance asleep at the wheel was limited to Project Eagle? Are we asked to believe this? I believe the credibility of NAMA is on the line, particularly when one considers that some €13 billion worth of assets are on the market...