Results 1,181-1,200 of 32,832 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: Is that an accurate reflection of what happened at the board meeting?
- 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 no sense that the board was taking this issue seriously. There had been a huge breach of confidentiality.
- 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, it was mentioned in the newspapers that PIMCO had approached NAMA.
- 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 do not think the witnesses have read the report. I do not think NAMA has read it. It zoomed in on the figures of 5.5% and 10% and placed a spin on them. "Spin" might be a strong a word, but that is what I believe. At every opportunity NAMA has come forward and zoomed in on what is a difference of opinion, as opposed to focusing on what the report actually states.
- 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 will continue by reading the last paragraph on page 72:Following the media coverage, NAMA and/or Lazard received enquiries from a further ten firms. Two of these - Goldman Sachs and Fortress - were allowed to enter the process. Lazard informed NAMA that it had excluded the other eight firms, seven of whom it said were well known to Lazard and had excellent reputations. They were just...
- 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: When I read about it, I see a very limited approach. NAMA started with three bidders. As we have said so often, it was kept deliberately small for a small number of people. Other firms were excluded. Mr. Collison has said that if there had been an underbid, there would have been a lot more bidders. In reality, a lot more bidders were kept out because it did not suit the strategy, but...
- 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 do not accept that and do not accept Mr. Collison's interpretation. NAMA actually told Lazard what to do. It guided it. This is one of the points made in the report. If Mr. Collison reads it, he will see that the Comptroller and Auditor General is saying it differed from other types of sale, that Lazard had a very limited role compared with other sales advisers and that it was told what...
- 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: You did-----
- 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: According to the board, NAMA directed Lazard. According to the minutes, NAMA told Lazard what to do. It was set out what it should and should not do.
- 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 going back - I will be very careful - to Brown Rudnick. It is the committee's understanding the board did not know until 2 or 3 April that Brown Rudnick and Tughans were involved with Cerberus. Is that 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: I was trying to be fair to the witnesses. Someone probably knew before that date. It seems, based on the documentation submitted today by Deputy Mick Wallace, into which I have not had a chance to go in detail, that Cerberus is clearly stating NAMA knew about the legal people it had employed well before the bid was accepted.
- 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, that Cerberus had employed Brown Rudnick and Tughans and that NAMA was aware of this prior to the making of the bid on 1 April.
- 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: It is a "Yes" or "No" answer.
- 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: Is it not?
- 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: Okay.
- 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.
- 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 not arguing over one, two or three days. I am saying that prior to that time-----
- 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: Prior to 1 April - let us take that date as the cut-off point - was NAMA aware that Brown Rudnick and Tughans were acting for 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: Absolutely not.
- 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, but I am asking a question and stuck for time. It is a "Yes" or "No" answer.