Results 1,161-1,180 of 32,837 for speaker:Catherine Connolly

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: What responsibility would have been on Cerberus with regard to disclosure?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: I am talking about its advisers. What obligation would have been on it to disclose who its advisers were?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Did Cerberus inform NAMA that it had taken on the same set of solicitors and the same property advisers? Did that come back as part of its obligation prior to the bid?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Did Cerberus tell NAMA that it had retained Brown Rudnick?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: That is the point I am asking. There is an obligation on the bidder to say who his or her advisers are and write it out before making the bid.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: That is important if Mr. Stewart says there was no obligation except only in relation to the data room. I have one last question for Mr. Collison on the bid process. He did not address any of the issues raised.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: I cannot read all of them, but they are all mentioned in the report. I do not have the time to do so, but I will come back to them in ten minutes. They are all set out in the conclusions, one after another. For example, it is stated the process was not competitive and that the bidders were restricted. Mr. Collison keeps talking about nine or ten bidders, but there were three.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Other speakers have. The process was not competitive but restrictive. Mr. Collison said, "If we had underbid, there would have been a lot more bidders."

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Yes, I took a note of what Mr. Collison said. There were a lot more bidders, but NAMA stopped them. Eight out of ten bidders came forward, but only two were allowed in.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Eight were refused. When Mr. Collison makes a statement that if they had underbid, there would, potentially, have been a lot more bidders, it must be remembered that there were a lot more bidders. In the process NAMA had set up it was stated they were not being taken in. Different reasons were given and set out in the report. One was that a commitment had been given to the existing...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: The most important point is that NAMA said "No" to them.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Chairman, I hope my presence here does not ensure that we are back in the Dáil next week because I am looking forward to spending a week in Galway. In any event, I had better ask a good question. I wish to follow on from Deputy McDonald's questions on this matter. Obviously the witnesses can accuse us of having the benefit of hindsight. I cannot tell the witnesses how many times I...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: All right.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Surely the legal team would have a role in dealing with conflicts of interest.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: There is a lot more than just Mr. Cushnahan involved.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: I referred one of the conclusions, but there is a whole chapter on conflicts of interest. It leads on to Cerberus.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: My difficulty is that I have only so many minutes. I am referring to the six conclusions and would have expected the witnesses to deal with each of them.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Yes, I accept that. Let us look at the board. I will go to a different chapter, the one on the sales process, about which the Comptroller and Auditor General highlighted a number of controls in dealing with the same problems. Page 72 deals with something of which Mr. Collison has some experience as he made a comment on the bidders. The report states that on 13 February 2014 "there was a...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: That is correct.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Absolutely. We will come to Mr. Collison's role. He cannot comment because he was not on the board.