Results 20,361-20,380 of 26,430 for speaker:David Cullinane

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)

David Cullinane: If Mr. Daly understood that, I am sure that PIMCO would also have understood that and that is why at all times when we go through conference call minutes - there is an assessment made by the Comptroller and Auditor General and the contemporaneous notes taken by Mr. Stewart - at every step of the way PIMCO were concerned about legal compliance.

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)

David Cullinane: If they had the same view as Mr Daly, which I am sure they would, that means, to follow the logic of Mr. Daly's argument, because they did not give NAMA that information that they were somehow complicit in a compromised process.

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)

David Cullinane: Mr. Daly is the chairman of NAMA and we have gone through all this ad nauseam. Mr. Daly said he was not aware that this all happened in April 2013, so any association that Mr. Cushnahan would have had with Brown Rudnick and Tughans would have been post-November 2013 when he left. For the record and for the purposes of clarity, is Mr. Daly telling me that nobody in NAMA, neither himself nor...

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)

David Cullinane: I am asking Mr. Daly this 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)

David Cullinane: Which was?

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)

David Cullinane: The answer to this question is important both for Mr. Daly and for PIMCO.

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)

David Cullinane: Which issue? What is meant by "issue"? What issue had they become aware of?

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)

David Cullinane: It does not say that. It simply refers to asking when PIMCO became aware of it. It does not refer to Frank Cushnahan.

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)

David Cullinane: It does not say it in the document. I asked whether anyone from NAMA had asked whether anyone from PIMCO had an association with Frank Cushnahan when he was a member of the board. That is not reflected.

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)

David Cullinane: No, it does not.

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)

David Cullinane: Is Mr. Daly telling me that was the response from PIMCO? Let us suppose that is true and they asked that question. Mr. Daly is telling me is that the response from PIMCO was that the association arose when the individual had left the board. Is that what Mr. Daly is telling me? If not, then what was the response?

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)

David Cullinane: What was the reference to April and May?

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)

David Cullinane: Nothing in that answer clears up anything for me. I asked a simple question. Did anyone in NAMA ask representatives of PIMCO when they had an association with Frank Cushnahan via Brown Rudnick and Tughans? Mr. Daly has said that they did, because Ronnie Hanna asked when PIMCO became aware of it. I am trying to establish the response. What date did they say that they had an arrangement...

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)

David Cullinane: Did they subsequently give a date?

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)

David Cullinane: What is the date?

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)

David Cullinane: It was April. That is the point I am making. It was in April 2013.

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)

David Cullinane: What I am trying to work out is-----

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)

David Cullinane: This is the point. If I was a board member and I was in the position of the NAMA chairman I would want to know the date explicitly in order to be absolutely clear that when the association first arose, the person was not a member of the NAMA Northern Ireland advisory committee. Mr. Daly is telling me that he did not get that. NAMA asked the question but did not get the response.

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)

David Cullinane: NAMA asked the question directly. Mr. Daly is telling me that the direct question was asked to PIMCO about at the point at which they initiated contact with Frank Cushnahan.

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)

David Cullinane: I find it extraordinary that not one of the NAMA board, chief executive or chairman would not have established exactly from the PIMCO representatives on 10 or 11 or 12 March when they first had any contact with Frank Cushnahan. If they did not get that information, then they should have done what I referred to earlier, that is to say, they should have contacted NTMA compliance and brought in...