Results 3,261-3,280 of 4,350 for speaker:Bobby Aylward
- 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)
Bobby Aylward: Let us suppose the board had not given the 10% discount and stuck with the figure of 5.5%. Would that have made a difference to the sale?
- 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)
Bobby Aylward: The figure of 5.5% was the norm up until then. Is that not correct?
- 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)
Bobby Aylward: Why was the Comptroller and Auditor General so entrenched in his report on the question of the figure of 5.5%. He is a professional man, as is the body for which he works. Why was he so entrenched in the view that there was loss on the difference between 5.5% and 10%? I call on Mr. Mulcahy to comment on the point as well.
- 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)
Bobby Aylward: The way things are going, I will have no time. Everyone is eating into 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)
Bobby Aylward: I am good at sharing but I have no wish to share too much. Did the board members look at selling off assets individually in the long term, rather than by a loan book sale? Was the option assessed properly at that stage? Could they have been kept or retained? Witnesses have implied several times that NAMA would have done better if it had held on until 2015, 2016 or 2018. Furthermore,...
- 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)
Bobby Aylward: Did NAMA assess one against the other?
- 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)
Bobby Aylward: That was putting a gun to the head of those in NAMA. Is that not the case?
- 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)
Bobby Aylward: I have two further questions.
- 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)
Bobby Aylward: PIMCO had a head start of almost 12 months on everyone else. It became involved in October but we now learn it was looking at the portfolio in April. A semi-open tender commenced for a few selected companies. Why was it open for only three weeks, which seems to be a very short period? Why was it confined to three weeks when other companies were showing an interest, for example, Fortress...
- 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)
Bobby Aylward: PIMCO had obviously been approached and was aware that the portfolio was coming on board.
- 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)
Bobby Aylward: Why was a directive given on no syndicated or financial bids? We only learned of this today. Will Ms Finan expand on that? Why was this directive given?
- 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)
Bobby Aylward: We heard today about a directive that there should be no syndicated or financial bids, in other words, the tender was confined again. Why was this directive given by 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)
Bobby Aylward: We only learned of this today.
- 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)
Bobby Aylward: That is why I am asking the question. Does Mr. Mulcahy know anything about syndicated or financial bids?
- 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)
Bobby Aylward: If two or three companies came together, they could offer more than PIMCO or anyone else.
- 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)
Bobby Aylward: Perhaps I am reading it wrong.
- 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)
Bobby Aylward: Mr. Rowntree, who was a witness here, seems to have contradicted Ms Finan. He said he was able to glean from information that was given out at meetings of the Northern Ireland Advisory Committee the identity of companies that were involved in the Project Eagle sale. He had no problem identifying them whereas Ms Finan said that no information whatever was given out at the NIAC meetings. Mr....
- 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)
Bobby Aylward: According to Mr. Rowntree, working papers were distributed at the Northern Ireland Advisory Committee and taken back again and these were not for public consumption. Why was that? There must have been important information or something in the papers distributed on any particular day which had to be kept private or secret or whatever word one would like to use.
- 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)
Bobby Aylward: It is obvious Mr. Rowntree's interpretation differs from that of Ms Finan. Does Ms Finan believe, and I include Mr. Cushnahan in this, that the whole process was somehow tainted and that the reason we are investigating it is that there was some inside deal or knowledge coming from inside that helped certain individuals to gain advantage?
- 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)
Bobby Aylward: Ms Finan thinks it was not possible that it could have happened.