Results 22,721-22,740 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) (25 Oct 2016)

Seán Fleming: Does Mr. Moriarty see the other side of the equation? The suggestion is that they decided not to co-operate in the hope of eventually frustrating NAMA and forcing it to walk away and sell off these properties. Perhaps they felt that the more they refused to co-operate, the lower the price would be and they would be able to deal with someone else.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Minus personal guarantees.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Can Mr. Moriarty explain why not? That is what has been said.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: I mean the new purchasers. It is said in the documents that have been circulated in the Northern Ireland Executive that they may not pursue-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: It was up to the purchaser.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: I accept that it was a matter for the purchaser. The witnesses have spoken about NAMA's enforcement procedures. How many enforcement procedures were concluded in the courts in the North? What were the outcomes of those procedures? It is fine to threaten enforcement but how many procedures were actually concluded-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: -----and in respect of what value? Would the witnesses have that information? Would there have been some?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: We have heard a great deal from the witnesses about following the debtors. We have been told that some of the five big debtors known to Mr. Cushnahan were being pursued and enforcement procedures were being taken. We have heard about the 39% enforcement rate. When I asked how many were completed, the witnesses failed to mention that none of them was ever completed through the enforcement...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Right.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Mr. Moriarty might send us a note to crystallise that point.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: I want to make one more quick point because other members are keen to speak. Mr. Moriarty might give us a breakdown of the loan sales over the period to which we are referring so that we can get an understanding of this matter. It has been mentioned that income of €112 million was generated from loan sales in Northern Ireland. Perhaps the information I am seeking can be broken down...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: I am asking about income. I will not break it down. It could include rental income. I will not make a distinction. I am asking for information on NAMA's income. I thought I would ask a question to place this in a historical context. If the answer to my question is in today's documentation, that is fine. If not, perhaps it can be sent on to us. Will the witnesses give us a breakdown of...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Okay. That is a regular enough issue.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: Okay.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: When Mr. Stewart responded to Deputy McDonald, he mentioned a reference to a fee paid to Mr. Cushnahan. When NAMA heard about that, did it report it to the compliance unit in the NTMA? Obviously, it sent shockwaves through Mr. Stewart and the board. How soon did they report it to the compliance unit? PIMCO's compliance unit seemed to be very good about it. How quickly did NAMA respond...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 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) (25 Oct 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) (25 Oct 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) (25 Oct 2016)

Seán Fleming: No success fee arose.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Seán Fleming: How would Mr. Stewart know that? How can he speak for Cerberus? He is speaking for Cerberus when he says-----