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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)

Seán Fleming: There is a small number of us here and I believe we should complete our work. I am not in the business of calling people back next week because some people chose not to be here this afternoon. In other words, if we can complete our business here this evening, we should. If there are outstanding questions we can forward them. The meeting was well flagged and it not fair to us trying to...

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)

Seán Fleming: We have been sitting for almost three hours. Perhaps we should take a 15 minute break and then conclude it after that. Is it agreed to take a 15 minute break and when we return everybody will get an opportunity? Agreed.

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)

Seán Fleming: Deputy Cullinane's view is not the view of the committee.

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)

Seán Fleming: Mr. McDonagh should be allowed to respond.

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)

Seán Fleming: Bear with me for a minute. The minutes are there. There is a disagreement as to what the minutes mean and we have to consider that. We can talk on this all day but we 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)

Seán Fleming: Exact.

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)

Seán Fleming: Will the Deputy let Mr. Daly finish?

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)

Seán Fleming: 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)

Seán Fleming: We will leave it at that. Deputy McDonald is next and then Deputy Connolly, if you are able to bear with us. Then, I will have some final questions myself.

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)

Seán Fleming: Is that a 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)

Seán Fleming: You will respond in a moment, Mr. Daly.

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)

Seán Fleming: I must come in here. In fairness, Mr. Daly cannot speculate as to why PIMCO did or did not. We cannot deal with speculation.

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)

Seán Fleming: Out of fairness to Mr. Ronnie Hanna, I will read the letter into the record because we have had extracts without the full explanation of Mr. Hanna's position as to why he is not here. The conversation over the past minute has not fairly represented that and, therefore, I will read it into the record.

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)

Seán Fleming: Of course there is. It was not mentioned and it is unfair to selectively quote from a letter on a serious matter like this without giving the full context. As such, I am now reading to the committee the letter dated 18 November 2016 from Mr. Ronnie Hanna to Mr. Lenihan, the clerk of the Committee of Public Accounts, Leinster House, Dublin 2:Re C&AG's Special Report No. 94 - National...

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)

Seán Fleming: Some information was provided to us. Lazard did not give full consent to-----

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)

Seán Fleming: -----its publication. Therefore, I believe we have it but we have been asked not to publish 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)

Seán Fleming: What does Mr. Collison mean by 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)

Seán Fleming: We have a document dated 14 February 2014 from Lazard. There is a reminder on confidentiality and it refers to an electronic data room, etc. Is that the document?

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)

Seán Fleming: I think that is not the document.

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)

Seán Fleming: I will ask the Comptroller and Auditor General to contribute at the end of the meeting.

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