Results 2,881-2,900 of 27,019 for speaker:Michael Noonan
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: -----to try to damage me and the Government.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Your previous question-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I will treat the allegation as a question if that is what you are asking me, Chairman.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Mr. Reid said it was shocking and, of course, it was. However, the shocking event was deemed to have been remediated by the withdrawal of PIMCO from the process. When it continued and Cerberus became the preferred bidder, it gave a written guarantee that it would pay nothing to anybody outside of professional fees. Second, compliance issues are matters for the SIPO and the board of NAMA,...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: On the allegation of a corrupted process, we can agree that there was a corrupted process. However, the people who were supposed to be the principals in that process were PIMCO and it withdrew.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Anything of a corrupt nature that has happened up to now has happened in Northern Ireland, in a different jurisdiction. It did not happen in the Irish Republic until NAMA made complaints to the Garda about specific issues. The process, engagement and payments were all north of the Border.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: No.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I set out to explain it in detail previously when, unfortunately, I took up some of the Deputy's time. The purpose of the Minister's empowerment to issue directives is to fulfil the purposes of the Act. I am excluded as Minister, as was my predecessor, from any involvement in commercial decisions made by NAMA. That is the line of division. There are circumstances where a Minister may...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: No terms of reference have yet been generated. We will have a commission of inquiry because, in general, it is in the public interest to have one at this point because the issue is so confused and there are so many allegations flying around. We have seen BBC programmes, Garda inquiries, inquiries by criminal bureaux in the United Kingdom, the inquiry by the Committee of Public Accounts, the...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I really cannot help the Deputy. I do not know whether what she is saying is accurate. I assume it is. It is a matter for Cerberus to tell the Deputy why they hired Tughans. It is a matter for NAMA to tell the Deputy why it found that acceptable. I cannot throw any light on it for the Deputy. It would be entirely a matter of what happened up there. I do not know.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Again, there was a commercial decision by NAMA. What I have been saying all the time is that when the chairman of NAMA advised me that PIMCO had withdrawn or was pushed out and that it was proceeding with the competition, it was to take the advice of Lazard to see if there was sufficient competitive tension in the process.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Afterwards the board made a decision on the basis of the advice that there was and it continued. I cannot get involved in commercial decisions.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: Not at the time but I subsequently became aware of it-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: -----when I read the Comptroller and Auditor General's report.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I do not think so.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: It was a matter for NAMA to advise its advisers and give them the information they wanted. I presume the question was: "If we continue with the process with the remaining interested parties, will we realise best value for the taxpayer?" Whether there were ethical issues that led to the withdrawal of PIMCO or not would not have an effect on the price. I presume that was the thinking but I...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I have no evidence there was not.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: No.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I was only the recipient of the letter.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)
Michael Noonan: I did not generate the letter.