Results 23,501-23,520 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 (29 Sep 2016)
Seán Fleming: We will want that paper also.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: I want to read to Mr. McCarthy the note with which he has obviously concurred in NAMA's 2013 accounts. It states the portfolio had a par value of £4.6 billion and that, as the transaction had not yet been completed at the date of authorisation of the financial statements - 9 May 2014 - and was commercially sensitive, the financial effect of the transaction was not being disclosed and...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: This refers to commercial sensitivity as a reason not to include a financial audit or statement. We cannot have organisations excluding items from their audited accounts because of commercial sensitivity. Does the Comptroller and Auditor General not have a problem with that phrase in the notes and he accepted that?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Mr. McCarthy completed the note by saying that the transaction represented the largest single transaction by NAMA to date and that it followed a focused sales process involving bidders from Europe and the United States.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: The chairman and the director signed that. It is their report and we will put that to them but the Comptroller and Auditor General also signed his audit report accepting that.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Okay, I want to-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Where best can we get an exact figure regarding the valuation included in the financial statements of NAMA relating to Project Eagle before the sale was completed? The Comptroller and Auditor General will appreciate that I have heard about ten different potential valuations depending on assets in, assets out, transactions during the period, further impairment, discounted cash flow and...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Are there any other questions?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: We will suspend our meeting at this stage. We are concluding this section of our examination of the report. I think voting starts at 12.45 p.m. and could run for at least 30 minutes. I think 2 p.m. would be a good time to resume when we will start with NAMA.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: The committee is now back in public session. We spoke with the Comptroller and Auditor General in the first part of the meeting about special report No. 94 on the National Asset Management Agency sale of Project Eagle. We have invited representatives of NAMA to discuss the report with the committee. We are joined by Mr. Frank Daly, chairman, Mr. Brendan McDonagh, chief executive officer,...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Are Mr. McDonagh's additional comments typed?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Will Mr. McDonagh pass his note to the committee secretariat who will arrange to make a copy for distribution? It will be on the record later but we had not seen that bit before.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Mr. Daly is ad-libbing for a moment.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: We do not have it in front of us, so just-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Mr. Daly is after throwing figures at us. We are not disagreeing. We will give him everything.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: I can understand you want to comment. Are they handwritten notes or are you just ad-libbing?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: Then Mr. Daly will have to go slowly to allow people time to jot down what he is saying.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: I am going to be very fair to the witnesses and the members. I will allow the chairman to read his opening statement as presented, but I will also allow him the opportunity, as a result of this morning's meeting, if there is something he also wants to include in his opening statement, to give it verbally. It would have been better if we had had a copy of it so that we could read it. In...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: I ask Mr. Daly to give me a moment while I clear it with the committee members.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Seán Fleming: He will later, certainly. I ask Mr. Daly to go slowly in order that we have time to jot down what he says.