Results 20,881-20,900 of 27,087 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: No, this is what they said. I took the transcript of it. This is what was said by-----
- 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: We took it from the video.
- 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, so it is all-----
- 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.
- 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 understand that, but what I am saying 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: Unfortunately, the record is just not on the website yet.
- 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: With respect to the Chairman, I am giving them the benefit of it because I am reporting back word for word what was 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: The Chairman can see that, but I will-----
- 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 has given that qualification, and I accept it so I will continue. Mr. Long said that it was valuable information that would have been useful for him at the time, and yes, it concerned him that he did not have it. He was speaking of the fact that he and Lazard were not made aware of the success fee between PIMCO, Brown Rudnick, Mr. Cushnahan and Tughans. This is what happened....
- 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: Lazard had no role in 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: Lazard was an adviser. Its representatives told us that it would have had a role.
- 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 would have had a role to play in relation to the integrity of the process. If Mr. Daly is saying that he would not have involved Lazard, why, then, in NAMA's minutes does it say: "Following further discussion the Board noted that, subject to Lazard's advice, it was minded to be as upfront as was possible with other bidders in relation to PIMCO's withdrawal"?
- 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: With respect, I am going to cut to the chase. There was talk of Lazard being in the position to give advice on how NAMA could relay information to other bidders. The fact is that Lazard was not given that information. The final point I will make is that Lazard went on to say that it had complete information and accepted that the process had become compromised. That comes from Lazard.
- 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: Lazard made it very clear that it was never made aware. It was very clear on that. It was never made aware of the relationship between Brown Rudnick, Tughans, Mr. Cushnahan and PIMCO. Lazard was very clear about 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: According to Lazard, it was not made aware of it at any time.
- 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: Okay.
- 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: My last line of questioning refers to page 37 of the Comptroller and Auditor General's report under the heading "NIAC views in relation to Project Eagle". It refers to Northern Ireland advisory committee, NIAC, minutes. Mr. Daly was at that meeting as he was the chair of NAMA. It says that he informed the NIAC of PIMCO's unsolicited approach. Can Mr. Daly see that 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: The date it gives for that meeting is 7 October 2013. Was Mr. Cushnahan still a board member?
- 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: Was he at that meeting?