Results 1,961-1,980 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) (24 Nov 2016)

Catherine Connolly: Let me finish and then I will let Mr. Collison conclude. The Comptroller and Auditor General's report is about concerns. One of those concerns relates to the sales process and gives rise to the longest chapter in the report. Lazard has been quoted as giving the thumbs up and having fully endorsed the process. My questions is: what was the role of NAMA in this and the pitch book? Mr....

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: No? All right.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Are there any documents relating to that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: And any other documents relating to it.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I am not looking to waste time on it. We can clarify the position and return to the issue.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I would appreciate it if Mr. Collison were to come back on the matter because I am asking a specific question.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I have asked the NAMA representatives repeatedly if they accept that the Comptroller and Auditor General, in his report, made no decisions and that he did not comment on NAMA's commercial decision. We are finished with the 5.5% versus 10% debate, in my opinion. However, I stand open to correction. We are also finished with the Comptroller and Auditor General's lack of experience or...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Yes, of the change in policy. Up to then, NAMA did not have that policy. It was changing policy completely. Did NAMA risk assess the decision?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Mr. Daly has do so.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: So it was not risk assessed

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Sorry, but that is what Mr. Daly said.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: That is not clear actually. The Comptroller and Auditor General-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Just let me finish, please. We are only reliant on a report. We had to wade through all of the various opening statements that referred to extraneous variables, the pressures, the senior bond debt and all of that as a background.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Please, Mr. Daly. Honestly, I will not interrupt you. All of that is in Mr. Daly's statement. In Mr. McDonagh's statement, he argues about the 5.5% and the 10% all over again. This is about the third time. Really, the issues are as set out here. They are basic issues, namely, interest and how NAMA handled it, the sales process, whether the process gave reassurance to the Comptroller...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: In PIMCO's opinion, it would not have been less because it assessed the market much more positively than NAMA. That is a fact. That is set out. That is a fact that has been set out by PIMCO. Let me ask a few more specific questions. I have a question about Cerberus for the legal team. When it was communicated to NAMA that there was €15 million - all of this has been set out and...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: At this point, this is for the legal team. I want to deal with both of them in the context of this matter and Cerberus as well.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Yes, and the period 10 to 12 March.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: We have heard all that before. Ms O'Reilly-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I am not asking about that aspect of the legal position. That has been outlined previously. It is outlined fairly in the Comptroller and Auditor General's report. He takes NAMA's view and he outlines it. My question to Ms O'Reilly and Mr. Stewart, as legal people, concerns the phone calls they had. Mr. Stewart was present for all the phone calls, I think; Ms O'Reilly was present for...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I am asking Ms O'Reilly and Mr. Stewart, as legal people, did alarm bells not go off in their heads? Did they not say to themselves that this man had been on the Northern Ireland advisory committee and was allegedly to receive this amount, as PIMCO had informed them? Did they not say to themselves that he had been in on everything at the advisory committee? Did they say to themselves that...