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

John McGuinness: What date was this confidential memorandum?

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

John McGuinness: 2014.

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

John McGuinness: NAMA had roughly 55 debtors in Northern Ireland. It was a very small business community - I am sure that a lot of information is shared and a lot of information would be known. NAMA had someone on the Northern Ireland advisory committee, which was well known and well placed within that jurisdiction. They also had two firms - Tughans, the local firm, and Brown and Rudnick. In January 2014,...

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

John McGuinness: Does Mr. McDonagh feel NAMA might have been set up in any way?

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

John McGuinness: This information was out there and these firms were out there. I understand they are reputable firms and understand the reason they, including Brown Rudnick, are in the market in terms of sourcing interest and getting value from their involvement and so on. However, when we piece together the correspondence NAMA provided to us this morning, the memorandum of understanding, the fact there...

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

John McGuinness: Deputy Fleming is now finished. Deputies Deasy, O'Donovan, Costello, Perry and then McDonald are next.

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

John McGuinness: I remind the Deputy that he is almost out of time.

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

John McGuinness: We will accept a list when it arrives.

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

John McGuinness: The witnesses have to attend another meeting.

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

John McGuinness: We are pressed for time and I will not delay the witnesses beyond a couple of minutes. In relation to Cerberus confirming to Mr. McDonagh that no fee commission was paid, who certified this?

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

John McGuinness: It was confirmed by whom?

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

John McGuinness: But who confirmed it for it?

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

John McGuinness: Who signed off in the case of Tughans?

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

John McGuinness: Okay; we do not know that.

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

John McGuinness: I have to ask these questions in relation to public comment, the first of which is to the Comptroller and Auditor General. Reference was made to the fact that the Comptroller and Auditor General did not have the wherewithal, as it was described, to deal with NAMA and this issue. Can he confirm for the committee that that is the case? I think he has done so already.

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

John McGuinness: Second, mention was made of about 13 cases being investigated by the Garda in relation to NAMA. Is that correct?

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

John McGuinness: Mr. McDonagh is not aware of them.

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

John McGuinness: They are complaints rather than-----

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

John McGuinness: Does Ms O'Reilly know whether the investigations are at an advanced stage?

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

John McGuinness: It will not tell NAMA. Has Mr. McDonagh disciplined many staff within his organisation in relation to, as is classified, insider dealing or leaking of information or accepting-----

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