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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) (25 Oct 2016)

Catherine Connolly: I do not accept that and do not accept Mr. Collison's interpretation. NAMA actually told Lazard what to do. It guided it. This is one of the points made in the report. If Mr. Collison reads it, he will see that the Comptroller and Auditor General is saying it differed from other types of sale, that Lazard had a very limited role compared with other sales advisers and that it was told what...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: You did-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: According to the board, NAMA directed Lazard. According to the minutes, NAMA told Lazard what to do. It was set out what it should and should not do.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: I am going back - I will be very careful - to Brown Rudnick. It is the committee's understanding the board did not know until 2 or 3 April that Brown Rudnick and Tughans were involved with Cerberus. 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) (25 Oct 2016)

Catherine Connolly: I was trying to be fair to the witnesses. Someone probably knew before that date. It seems, based on the documentation submitted today by Deputy Mick Wallace, into which I have not had a chance to go in detail, that Cerberus is clearly stating NAMA knew about the legal people it had employed well before the bid was accepted.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Yes, that Cerberus had employed Brown Rudnick and Tughans and that NAMA was aware of this prior to the making of the bid on 1 April.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: It is a "Yes" or "No" answer.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Is it not?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Okay.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 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) (25 Oct 2016)

Catherine Connolly: I am not arguing over one, two or three days. I am saying that prior to that time-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Prior to 1 April - let us take that date as the cut-off point - was NAMA aware that Brown Rudnick and Tughans were acting for Cerberus?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Absolutely not.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Yes, but I am asking a question and stuck for time. It is a "Yes" or "No" answer.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: That is fine.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: From the documentation submitted, I understand there is an onus on the legal or property advisers to tell NAMA, and that NAMA asked, through Lazard, to be told who the advisers were. Did that happen?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: Is there an obligation on any bidder to specifically set out in writing who its legal and property advisers are?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Catherine Connolly: This is my third time to ask the question today. The witnesses know more than we do. It is crucial. We have gone around in circles asking when NAMA became aware that Cerberus had the same set of legal advisers. The witnesses tell me it was not before 3 April. I asked whether there was an obligation on the bidder to tell NAMA who its advisers were. The witnesses have said there was an...

Syrian Conflict: Statements (20 Oct 2016)

Catherine Connolly: I have no hesitation in saying on the record that I condemn the atrocities that are happening in Syria perpetrated by the Syrian Governments and the Russians. However, the comments made by the leader of Fianna Fáil are both infantile and dangerous when he said that we do not want to condemn Russia or to say that this has arisen from one particular source. That is to simplify matters in...

Public Accounts Committee: Business of Committee (20 Oct 2016)

Catherine Connolly: Could we agree to acknowledge the letter but to discuss the proposal in private session?

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