Results 1,641-1,660 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) (22 Nov 2016)

Catherine Connolly: Subsequently when there is a leak in the paper, more people come forward. 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) (22 Nov 2016)

Catherine Connolly: Is that how the next stage happens?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: My question was very simple. Was that how the next stage happened, after the leak? Is that how the third round happened?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Okay, that is lovely. Did Lazard approach Fortress at that stage?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Fortress approached Lazard. Who did Lazard approach? Did everybody come from the leak?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: All of them came from the leak in the paper.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: At that point, did Lazard go back and say to NAMA that there had been a leak and more people were coming out of the woodwork-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: -----interested people and big firms?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Lazard did. Tell us what happened.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: How many did Lazard refuse?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: There were ten.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: That is okay. Mr. Long knows exactly; he is the expert. Ten firms came forward. Lazard allowed two in. Why did it reject the other eight?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Was that the reason Lazard refused the eight of them?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Is Mr. Long saying that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: That was the reason Lazard refused the other eight firms.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Let us look at page 72 of the Comptroller and Auditor General's report at point 4.39, which says: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...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Page 73.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: No, page 73. It is a clash of accents. On page 73, it says, "Requests to enter process refused" and there are eight refused for the following reasons: confidentiality, the need to adhere to timetable, to maintain the motivation of bidders already in the process. Listen to that one.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: It says "Maintain the motivation of bidders already in the process who were told that only a limited number of parties would be included" and "Some firms appeared only to be interested in parts of the portfolio". There is no mention of not meeting NAMA criteria here.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: They were not admitted. That is not set out here. These are the reasons given by Lazard.