Results 23,001-23,020 of 34,778 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) (18 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) (18 Oct 2016)
Seán Fleming: That is the Deputy's last question. Mr. Soffe will respond to that and then I will invite Deputy Cullinane to contribute.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: What is the page number?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Which paper?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: The paragraph to which Mr. McEnery referred, on page 146, and which mentions the rate of 10% begins as follows: "In NAMA AR [asset recovery] experience, a party buying a non-performing loan portfolio ... is likely to discount the value of the underlying security by at least 10%...". In other words, the 10% rate is relevant to the buyer, not the seller. That sentence which is the only...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Yes. Mr McEnery also talked about loans and receivables. I remind him that those financial statements were signed off on by the directors on 9 May 2014. In other words, they were written after the agreement on the sale price. Mr. McEnery referred to the 2013 accounts to show this was the policy in 2013. Maybe it was; maybe it was not. What we can say is the financial statement was only...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: However, Mr. McEnery did not say that.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: The statements were written in May 2014.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Exactly.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: To help the Deputy, the day Mr. Daly was here we concentrated on the question of what evidence there was at the time the sale was being considered of the use of the 10% discount rate by NAMA. Two weeks later the witnesses have produced not a screed of evidence to back up the use of that rate. If they do, it will make our lives very easy.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Those statements were written after the deed had been done.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: How about showing us iterations of the board meetings before the sale was done instead of after it?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: We asked about this three weeks ago but still do not have any evidence.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: A mobile phone is ringing and it is interfering with the recording of the meeting.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Before the witness replies to that question, I will say that this committee is not empowered nor is it within its remit to deal with matters of corruption. References to corruption may have been made but we are not having a discussion on corruption. That is a matter for other authorities. I know that the words were mentioned at a previous meeting. However, we are not in a position to...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: I want to let the Deputy explain his point, but I cannot let this committee stray into trying to find, or adjudicating on, matters of corruption. It is not within our-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Before we proceed any further-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Just bear with me for a minute. Under no circumstances will our committee, when it is concluding its work, be dealing with the issue or findings of corruption. We will not be going there. We are the legislators. Corruption is decided on down in the Four Courts or somewhere else, but not in this building. I have to be very careful because we will undermine our work if we start talking...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: I want to be helpful.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)
Seán Fleming: Fine.