Results 20,541-20,560 of 26,718 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: He still does not believe it, which I find incredible.
- 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: He still does not believe the process was compromised.
- 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: One final point.
- 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: One final point, if I can. In his opening statement, Mr. Daly listed out all the stuff that he says PIMCO did not tell him, which was very valuable information Mr. Daly would accept that he did not know. Now that he knows that and they have been established as facts, along with all the other issues around Mr. Cushnahan's associations with debtors, Mr. Daly cannot say that did not in any way...
- 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: That is quite incredible.
- 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 Comptroller and Auditor General clarified, stating that the probable loss arose when the decision was taken to sell the portfolio in a single lot.
- 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 is what he 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)
David Cullinane: I will be less than one minute. To be fair to Mr. McDonagh, he should be afforded an opportunity to retract his view on the view of the Comptroller and Auditor General if it is incorrect. Mr. McDonagh said in his opening statement that the view of the Comptroller and Auditor General is that a discount rate of 5.5% would have been appropriate to derive the market value of the portfolio. I...
- 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: Yes. In layman's terms, that is what was meant.
- 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. McDonagh is attributing to Mr. McCarthy the view that a discount rate of 5.5% would have been appropriate to derive the market value of the portfolio. Was that Mr. McCarthy's view? Is it anywhere in the report?
- 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: Could Mr. McDonagh be given an opportunity to withdraw his remark in that case?
- 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 refer to the point that I made. With respect, it is important that when a view is attributed to the Comptroller and Auditor General and he has clarified that it is not his view nor is it anywhere in the report, which states a discount rate of 5.5% would have been appropriate to derive the market value of the portfolio, it is fair to ask Mr McDonagh to withdraw 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)
David Cullinane: Fair enough.
- 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 is easy because NAMA is mischaracterising the scene.
- 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 NAMA witnesses are disagreeing and mischaracterising 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)
David Cullinane: When Mr. Stewart was responding to questions on the negotiations which had commenced in April 2013, he said it was his view, or interpretation, that the negotiations were between Tughans, Brown Rudnick and PIMCO. Is that what Mr. Stewart 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)
David Cullinane: Yes. At that time, and we are talking about 13 March 2014, NAMA also knew that Mr. Cushnahan was in line for a success fee.
- 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: Yes.
- 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: So NAMA was unable to join up those dots.
- 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 is incredible and does not make sense.