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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) (17 Nov 2016)

Catherine Connolly: Did they tell the witness about any documents they had to sign for NAMA - non-disclosure documents or the nature of the documents? Did they show them to the witness or did he ask for them?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: I find that difficult to understand. How could they have a contractual ability? The witness used the word "contractual" a few times. What does he mean by that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: The witness asked them that question.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: What was their answer?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Then the witness employed them. When did he tell NAMA about his new advisers?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: No, there were property advisers as well. Did the witness not take on somebody else too?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: On page 80 of the Comptroller and Auditor General's report there is a chapter entitled "Undertakings on engagement of advisors".

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: It states: "Potential bidders appoint professional advisors..." and goes on to outline the change. In 4.55 it states: "Prospective bidders [that is, the witness] for Project Eagle were required to seek written consent from NAMA in relation to any advisors they wished to engage or retain during the loan sale process."

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: It goes on to say that Cerberus informed Lazard of its intention to engage New River Retail. Did the witness tell Lazard about Brown Rudnick?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: I will focus on this. NAMA has said it did not know, and Mr. Neporent has agreed with its version today that Cerberus did not tell NAMA.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: The witness did not wait for my question.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: NAMA says it was not aware that Brown Rudnick was Cerberus's legal advisers. It has said it repeatedly.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Cerberus told NAMA then that Brown Rudnick was its legal advisers.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Was the witness not obliged to tell NAMA before that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Has the Comptroller and Auditor General, I or somebody got it wrong when it is outlined in the report that prospective bidders for Project Eagle were required to seek "written consent from NAMA in relation to any advisors they wished to engage..."?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Yes.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: I do not. I asked for them when the committee last met.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: Mr. McCarthy might clarify that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: I seek a simple "yes" or "no" answer. I merely want to be fair to a witness who was here yesterday. I think Mr. Neporent clarified it already. In his written submission in September 2015 to the Northern Ireland Assembly, Mr. Neporent mentioned meeting the deputy First Minister, Mr. Martin McGuinness. Mr. Neporent clarified today that he did not actually meet him. It is just that I put it...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)

Catherine Connolly: It was a written submission by Cerberus.

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