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Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: The legal advice to us was that we should stay away from that matter because of police investigations. I respect that position as something could be said at a meeting that could compromise an investigation or a defence. I do not want to go there to be honest.

Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: No, it is Mr. Stewart. Are there issues arising? We can ask the legal advisers to NAMA to make themselves available.

Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: That is fine. It is agreed that we will put NAMA on notice to make the individuals in question available next Thursday when Mr. Daly and Mr. McDonagh appear. They are normally present in any case. We will ensure they are here as part of the NAMA team next Thursday. Is that adequate?

Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: We will make sure the legal advisers are here next Thursday.

Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: While next Thursday's meeting is the final scheduled public meeting, invitations have been extended to several other individuals and if they agree to appear before the committee, we will have to-----

Public Accounts Committee: Business of Committee (17 Nov 2016)

Seán Fleming: Yes, we will have to wait and see. Next week's meeting may be the final meeting. However, depending on the responses we receive, there may one or two further meetings. As of now, next Thursday's meeting will be the final one but we must wait and see. As there no other business, we will suspend for a moment to allow the witnesses to take their seats.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: Today, the committee will continue its examination of the Comptroller and Auditor General's special report No. 94 on the National Asset Management Agency, or NAMA as it is better known, and its sale of Project Eagle. Project Eagle was the code name given to the sale of NAMA's Northern Ireland loan portfolio. To date, we have met the Comptroller and Auditor General on his report,...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: Deputy, your time has concluded.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: You might not have all of your notes before you, so I will clarify the dates of the meeting. At the main board meeting on 12 September 2013 the chairman advised that he had received the letter about the interest of PIMCO. The meeting of the Northern Ireland committee was on 7 October. There is a full page in the minutes of that meeting about the chairman outlining the issues and wishing to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: I wanted to get the chronology right in case people are confused.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: In September the board in Dublin heard about it, on 7 October the Northern Ireland committee was apprised of it and on 10 October it was discussed in more detail at the main board meeting in Dublin.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: Deputy Kelly might finish now.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: What I will say -----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: I will wait until Deputy Kelly finishes his questioning, which will be in a moment. The reason is that until now I have avoided a forward-and-back form of questioning when the Comptroller and Attorney General is present. I want to-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: I call Deputy David Cullinane.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: For the record.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: Mr. Mulcahy cannot be expected to comment on something about which he knows nothing.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: When did Mr. Mulcahy first become aware of the PIMCO bid?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: I cannot ask you to speculate on who did what on issues about which you do not know anything.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Seán Fleming: We are here to deal with facts. Witnesses cannot be asked to speculate. If Mr. Mulcahy says he knew nothing, that is his answer.

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