Results 22,301-22,320 of 34,729 for speaker:Seán Fleming

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 public. It was in the courts anyway.

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 have a final point for the information of the committee. It is not to do with this. It relates to the PIMCO letter we received and read into the record last week. The phone call referred to in the minutes deals with the arrangement of the fee. The minutes recorded categorically based on the phone call talk about the fee-sharing arrangement that had been put in place by PIMCO. That is...

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: Allow Ms Finan to comment.

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 coming to the end of this session. A vótáil has been called in the Dáil and we must go to the Chamber. On my behalf, and that of the committee, I thank Mr. Mulcahy, Ms Finan and Mr. Corrigan for being here today. They came here voluntarily. They are not directly involved in NAMA and it is difficult, a couple of years on, to recollect everything that happened 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: We are discussing special report No. 94 of the Comptroller and Auditor General on the National Asset Management Agency, NAMA, and its sale of Project Eagle. Project Eagle was the code name given to the sale of NAMA's Northern Ireland loan portfolio. I welcome from Cerberus Capital Management, the investment firm that bought Project Eagle, Mr. Mark Neporent, chief operating officer, who is...

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 Mr. Neporent for coming.

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: Time please Deputy.

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 next call Deputy Cullinane who has ten 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: To what meeting is the Deputy referring?

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 29 September 2016.

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: Has the Deputy any idea where it appears in the transcript? Read the extract anyway as it is on 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: Time, Deputy Murphy. I call Deputy Connolly.

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: That was Brown Rudnick.

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: Can Mr. Neporent tell me generally, so that we can understand the process because we are not in the business, the range of advisers Cerberus would employ on an issue like this, apart from legal and accounting?

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 does Mr. Neporent mean by servicing, for the lay person watching?

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: Would Cerberus employ insurance, planning or environmental advisers because it is taking on a lot of property? Did it do any of that?

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 in the pre-bid situation. What happened afterwards is Cerberus’s affair. Did it employ any of those types of adviser? Other people have said they had insurance advisers and environmental consultants on board? Did Cerberus go that route?

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: Would Mr. Neporent send a note of that to the committee afterwards?

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: How many of those advisers was Cerberus required to notify NAMA of? Mr. Neporent says there were 16 but only a couple of those would have had access to the data room.

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: Were there any advisers hired by Cerberus who did not have access to the data room, who were notified to NAMA?