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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: What did NAMA ask him?

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: Did NAMA ask Mr. Hanna if he had any knowledge of this?

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: Okay. The solicitors for PIMCO walked across the street within a matter of hours, which is an exaggeration so within a matter of days. Would Mr. McDonagh like to answer the questions, because it is difficult to address the two? I will address the question to him if he wants or I will address it to Mr. Daly, but when he is constantly telling him, it is extremely difficult.

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: When the solicitors, Brown Rudnick, literally walked when PIMCO withdrew and went over the Cerberus, Mr. Daly did not find that out until 3 April. Is that right?

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: Did it worry him? Please, do not tell me about the assurances NAMA sought. I have read those. Did it worry Mr. Daly that the same solicitors were now going to Cerberus?

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: And Mr. Daly got that assurance.

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: Did it occur to him in view of what he knows now about PIMCO and the alleged £15 million or £16 million to ask Brown Rudnick what it was getting? Does Mr. McDonagh want to answer?

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. McDonagh wanted to answer that question.

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: Did Brown Rudnick sign a non-disclosure agreement?

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: Did Mr. Stewart hear my question? Did Brown Rudnick sign a non-disclosure agreement?

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: PIMCO has gone out-----

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 allow me to finish. PIMCO had gone out it is alleged under a cloud. Cerberus then had the same group of solicitors. Is Mr. Stewart telling me the onus was on PIMCO?

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, I did.

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 am going to stop Mr. Stewart at that point because it has taken four and a half minutes to reach it.

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 not complicated at all. The ordinary person on the street has been mentioned many times. For the ordinary person on the street, a group of solicitors were acting for one company which withdrew under a cloud. They then literally crossed the road and within a matter of days were with another company which ultimately was successful. They were paid in the region of €15 million to...

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: For what were the solicitors paid €15 million?

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. Stewart did not ask the question as to what knowledge it had brought, rather he asked for confirmation that nothing had been breached.

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: Cerberus has acknowledged before the committee that there was a breach.

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: Is Mr. Stewart now aware of 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: When did this become apparent?

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