Results 32,241-32,260 of 33,581 for speaker:Catherine Connolly
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Then we can take-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: When was this confirmed?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: I thought I was very quiet today-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: First of all, I welcome this opportunity to hear from the Comptroller and Auditor General again. He has shown great dignity in listening to a narrative which is quite the opposite of that which is contained in the report. It is good that Mr. McCarthy is getting the opportunity to look at that today. On the issue of fair value, I am a little confused. There are three values at play....
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Yes, I got that one-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: That is okay, I understand that now. Mr. McCarthy has said that he is standing over his report, that he has had the benefit of listening to all the evidence from the various witnesses who have appeared before this committee and that he is not changing one single thing in his report.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: I welcome that clarification. Mr. McCarthy has provided that clarification after listening to all the evidence laid before this committee over the past few weeks.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: On the draft report?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: One of the criticisms made is that the Comptroller and Auditor General did not engage with NAMA. He has come back and said that is not true. Leaving aside that criticism, Mr. McCarthy has heard the evidence and read all the documents presented by NAMA. Has any of it changed his mind?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: To go back to what Deputy Peter Burke said about commercial decisions, Mr. McCarthy has made it clear from day one that he will make no comment on NAMA's decision to sell and on whether that was commercially correct. He has repeated that here today.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Mr. McCarthy did not pluck the 5.5% figure out of the sky. There are three pertinent documents produced by NAMA for this committee; one from Mr. Brendan McDonagh on 29 September, one from Mr. Frank Daly on the same date and one from NAMA, unsigned, on 14 September. In those documents it is argued that the Comptroller and Auditor General has a "misplaced attachment" to an accounting value...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: I do not expect Mr. McCarthy to comment. I have re-read the documentation and God help us, as committee members, we must re-read the stuff. That is our job -----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: That is our job. On 29 September, Mr. Brendan McDonagh asserted that the Comptroller and Auditor General's report has adopted a position which would not be accepted by "anyone engaged in actual loan sales in Ireland or anywhere else". The statement uses that type of language throughout. Basically, the assertion is that the Comptroller and Auditor General's office did not have a clue. Mr....
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: There were a number of other issues.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Does Mr. McCarthy want to comment on those issues?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Mr. McCarthy misunderstood me. I did not say it was tortuous to read it. I was referring to the replies we have received on a continual basis. My frustration was with the failure to deal with the issues raised in the Comptroller and Auditor General's very clear report. It is not that I am agreeing with the report but my frustration is that none of those issues has been dealt with. Mr....
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: For the record, because we will be going on to do a report, does Mr. McCarthy still say the process was faulty? Would he use a different word to faulty? Perhaps the best way to say it is that Mr. McCarthy had concerns about the process of the sale.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Mr. McCarthy had concerns about the conflict of interest and he specifically said that NAMA should have taken more action when it came to the retention.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Lazard will come in before us next week or the week after. Can Mr. McCarthy comment on the limited information available to Lazard? He has made a comment on it in his report. NAMA got the assurance from Lazard and that has been used as reassurance by NAMA that everything was right.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)
Catherine Connolly: Can Mr. McCarthy comment on whether Lazard should have been told about it? Is that within his remit?