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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) (17 Nov 2016)

Seán Fleming: The Deputy should be very quick because Deputy Peter Burke would like to contribute.

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: The bidders could not seek funding or borrowing. That was, we understand, one of the conditions. The bidder had to write out the cheque to the-----

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 Peter Burke and ask him to be brief.

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 will put that to NAMA next week.

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 going to conclude. I have two quick points to put to Ms Finan. We have a few minutes.

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: The Deputy has been in for 20 minutes.

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: Fine.

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 will see how we are doing time-wise. We will definitely deal with that before we leave the room. Ms Finan is a member of the Northern Ireland committee. Deputy Kelly touched on this earlier. I ask her to outline the format of the declaration of interest somebody had to make at the meeting. Did they have to sign a form, circulate it and notify the members, or did they just have 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 am pleased Ms Finan should say that even though it makes our job difficult. Mr. Rowntree said quite the reverse. He said absolutely that a sheet was handed to the chairman-----

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: ----- and the other members sitting beside Mr. Cushnahan had no idea as to its contents.

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 will move on because we are caught for time. Ms Finan might not be aware that we have been given the Northern Ireland committee minutes for the entire period. The minutes state, "A declaration of interest was made by Mr. Frank Cushnahan in relation to...". We have three lines blanked out that we, as the Committee of Public Accounts, have not received. Ms Finan was aware of it at the...

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 thank Ms Finan.

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 just want to put it on record. Again it makes our job more difficult. We have a direct conflict of interest. At a previous meeting Mr. Rowntree told us that people sitting at the board had no idea of what was on the sheet of paper handed up and they could have been sitting beside a member who had a conflict of interest and not been aware of it. Ms Finan is saying that is not the case.

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: Yes.

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: No, but they were recorded in the minutes.

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: It was recorded in the minutes.

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: He might have mentioned - Ms Finan cannot answer - debtor, but no figure in relation to the debts were ever mentioned.

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: The board minutes refer to detailed discussions about debtor remuneration and companies' insolvency actions updates. There seems to be quite a bit of information that anyone with any general knowledge would have known even though it was not said at the meeting. It is a bit like the board of NAMA when it discusses big debtors. If a board member mentions that somebody has a particular hotel,...

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: Yes, but in general.

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: Okay.

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