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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 (29 Sep 2016)

Seán Fleming: So, NAMA did not know.

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: Pardon?

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: Is Mr. McDonagh comfortable that NAMA was being kept in the dark about this at that critical stage?

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. Deputy McDonald wants to come in on this.

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 are nearly there. It has been long, but I would prefer to take the extra few minutes to finish this. I would hate to have to come back for an hour. The witnesses will be back at a later date when we have heard from other witnesses.

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 call Deputy Cullinane.

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's position is well covered in his opening statement.

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 will wrap up. I ask that NAMA send a note on its previous experience rather than have us discuss the matter further because the agency has criticised the Comptroller and Auditor General about his lack of expertise in loan sale valuation and sales process. NAMA said this was only its second sale. We want to know the scale of the first one and the extent of NAMA's loan sale experience...

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: And the board pack?

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: How would they have received the board pack?

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: So that means they had to have 24 hours' notice where an overnight courier is used?

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 not drawing any conclusions but it would be fair to say that the tone of some of the NAMA statements has not been nice. I will just put it that way. I would use the word "condescending". NAMA referred to the Comptroller and Auditor General only producing a desktop report and queried his expertise. Separately, it described the Northern Ireland advisory committee as a talking shop....

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: No, but Mr. Daly has said it somewhere.

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 take that qualification. Without going into the details and even though there is a press statement on it out there somewhere, could Mr. Daly tell us about the complaints NAMA has made to the Standards in Public Office Commission, SIPO, or to the Garda in order that this committee does not inadvertently trespass on issues that are before SIPO or the Garda? What has NAMA reported 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: All three?

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 understands why I am asking this question because I do not want to tread across something.

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: It has been a long day-----

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: There is a slight tone of-----

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 are big people. Has the Comptroller and Auditor General any quick comments to make? He is free to comment at a subsequent meeting but we are not opening up a debate. Is there anything in particular that he wanted to highlight?

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 leave it there.

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