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Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: On talking up or talking down the market, given that she works in a section of the largest commercial real estate property firm in the country, is Ms Hunt satisfied that she is independently objective?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: In doing property analysis, would Ms Hunt's company also analyse a change of zoning on a particular site?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: In the earlier presentation by Mr. Moran of Jones Lang LaSalle, the Irish Glass Bottle site came up. What was the largest site that CBRE participated in?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: Did CBRE have an active or passive role in that development?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: Which particular sites in Ballsbridge were involved?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: Did it include Hume House?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: In his presentation this morning, Mr. Moran told us his company no longer has a fee structure based on the percentage of the valuation. CBRE does.

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: Would that be based upon percentage?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Michael D'Arcy: Has CBRE taken on any staff from NAMA?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Thank you Chairman. I am just going to continue where you finished Mr. Daly please. These private equity funds that have come in, you have commented that there has been a sale in the region of €6 billion towards private equity funds. The oversight of these funds- both nationally, here, and internationally - is there any?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Can I ask Mr. McDonagh ... the average loan discount ... and I am operating from the core documents of NAMA - NAMA C4b Vol. 1, dated 31 March, page 26. And this is a presentation you made, Mr. McDonagh to the public accounts committee on 13 January 2011, "[The] loans transferring to NAMA was actually going to be less than the 30% estimate in the [Minister ...] Minister's September...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Can I ask the information that was exchanged between the bank ... the banks and yourself? Was Project Atlas part of that information?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: The PwC report?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Just to be very clear, Chairman ... I suppose what I am trying to probe is ... Project Atlas was the PwC report commissioned by the Financial Regulator and it was presented to the Minister in March '09.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Was presented to the Minister in March '09. And you're dealing with the banks in ... at what, summer '09? That report ... PwC were paid €5 million for the valuations for ... I think the fieldwork was concluded December '08. So what you are telling me was Project Atlas, which was commissioned by the Financial Regulator, was presented to the Minister in March, wasn't given to you in...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Did you request any of the Project Atlas information?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: But, by virtue of the fact that the commissioned work was only a matter of a few weeks - a few months old - you didn't request it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: But you didn't request it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Can I ask, in terms of the participating institutions, you stated that the banks covered - as participating institutions - led you to believe that 40% ... 40% of the loans that were transferred were income producing. You say today that it was 23%?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

Michael D'Arcy: Could you just expand upon how it turned out to be the case that the banks can tell you that 40% of their loans are income producing, and it goes closer to half of it?

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