Results 32,441-32,460 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) (25 Oct 2016)
Catherine Connolly: When was Mr. Stewart's office made 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) (25 Oct 2016)
Catherine Connolly: I do not mean Mr. Stewart personally but whoever was taking the decisions.
- 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 the witness sure of that?
- 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 important. Here we have Cerberus taking on the same solicitors and the same property advisers. I wish to ask questions about how the conflict of interest was followed up, not to be argumentative but because the Comptroller and Auditor General raises it.
- 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: He makes specific conclusions that further steps should have been taken. If Mr. Stewart is not in a position to help us on this, we will get the appropriate witness. Is he not in a position to help us here?
- 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: What person in the office was approached for advice regarding whether it was appropriate that Cerberus had the same solicitors?
- 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: Mr. Steward cannot help us.
- 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 asking about 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: I have two final questions. Is Mr. Stewart aware that when a bidder comes forward to bid, the financial adviser, such as Lazard in this case, would set out what responsibilities are on the bidder?
- 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: What responsibility would have been on Cerberus with regard to disclosure?
- 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 talking about its advisers. What obligation would have been on it to disclose who its advisers were?
- 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: Did Cerberus inform NAMA that it had taken on the same set of solicitors and the same property advisers? Did that come back as part of its obligation prior to the bid?
- 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: Did Cerberus tell NAMA that it had retained Brown Rudnick?
- 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 the point I am asking. There is an obligation on the bidder to say who his or her advisers are and write it out before making the bid.
- 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 important if Mr. Stewart says there was no obligation except only in relation to the data room. I have one last question for Mr. Collison on the bid process. He did not address any of the issues raised.
- 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 cannot read all of them, but they are all mentioned in the report. I do not have the time to do so, but I will come back to them in ten minutes. They are all set out in the conclusions, one after another. For example, it is stated the process was not competitive and that the bidders were restricted. Mr. Collison keeps talking about nine or ten bidders, but there were three.
- 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: Other speakers have. The process was not competitive but restrictive. Mr. Collison said, "If we had underbid, there would have been a lot more bidders."
- 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, I took a note of what Mr. Collison said. There were a lot more bidders, but NAMA stopped them. Eight out of ten bidders came forward, but only two were allowed in.
- 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: Eight were refused. When Mr. Collison makes a statement that if they had underbid, there would, potentially, have been a lot more bidders, it must be remembered that there were a lot more bidders. In the process NAMA had set up it was stated they were not being taken in. Different reasons were given and set out in the report. One was that a commitment had been given to the existing...
- 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: The most important point is that NAMA said "No" to them.