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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 (Resumed) (24 Nov 2016)

Catherine Connolly: I thought NAMA just gave it a verbal briefing.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I ask Mr. Daly to let me continue. Initially, no written document was given to Lazard. NAMA gave it a verbal briefing. Is that correct?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Then Lazard came back-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Please, I am not drawing any conclusions. I am establishing facts. I have a completely open mind. I have a report from the Comptroller and Auditor General. I am listening and I am asking questions. NAMA gave a verbal briefing and it came back with its understanding of that. Is that correct?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: That is set out in the Comptroller and Auditor General's report, I think on page 68.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: That is okay, please listen to me.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: No. I am going to ask the questions that I need answered and then Mr. Daly can take all the time under the Chair when he comes back to Mr. Daly to fill out anything. When Lazard came back with that understanding as set out on page 68, was NAMA happy with that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: It is from the report of the Comptroller and Auditor General. I work from this report all the time. I do not go into the area of speculation, opinion or anything like that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Paragraph 4.17 states, "Following the meeting, Lazard submitted a document ... on 22 January 2014 setting out its understanding...". Is Mr. Daly happy with that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Good. Did NAMA change anything?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: What changes?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Well, Mr. Daly should be. Whoever-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Was there a change regarding its agreement? Did NAMA work with it on that agreement? Was it changed afterwards? Are there documents to show us?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Mr. Collison will have to come forward to a microphone.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Good.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: What changes did NAMA make?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I ask Mr. Collison to tell me about them quickly.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I just want the changes. I am not questioning anything NAMA may-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Yes. What changes?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I will leave Mr. Collison there to think about that and he can come back to me before the end of my time with the changes that were made. Will he do that?

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