Results 3,341-3,360 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) (25 Oct 2016)

Bobby Aylward: Does Mr. Collison mean NAMA was pressurised or that it deemed it better to sell off the assets as quickly as possible?

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)

Bobby Aylward: The October paper noted that NAMA would only sell loans by way of open competition. Yet the December paper sought the board's guidance on whether to do a closed transaction with PIMCO. Why did NAMA change its stance on asset recovery?

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)

Bobby Aylward: There were two months between the position in October, which was open competition and having sought the guidance of the board in December-----

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)

Bobby Aylward: PIMCO's indicative bid for the top 55 properties, which were the cash ones was €950 million, which was higher than the €890 million that NAMA expected to sell the loans for. Will Mr. Collison explain this figure as it suggests that NAMA's projected disposal values were too low?

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)

Bobby Aylward: It was €59 million of a difference.

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)

Bobby Aylward: Did Mr. Collison not think at that stage that it would have been a good idea to get a valuation of the properties?

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)

Bobby Aylward: Section 2 of the paper sets out the challenges of an open market process and the advantages of a closed transaction. A number of risks of a closed sale are also set out in paragraph 142. The paper states that in summary while it would be possible to openly market the loans, the scale of the project would mean careful planning, budget management and execution. This suggests that assets...

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)

Bobby Aylward: Yes, it is the second last paragraph on page 142. It states that in summary, while it would be possible to openly market the loans, the scale of the project would mean careful planning, budget management and execution.

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)

Bobby Aylward: NAMA did not seek current property valuations for all its property and consequently had no estimates of what an investor might pay for the portfolio. The only guide to what a bidder might pay was the PIMCO bid. On what basis did the paper recommend a minimum of €1.3 billion?

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)

Bobby Aylward: I will come to Mr. Rooney.

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)

Bobby Aylward: Was the analysis intended to show what the loans were worth? Was this the value of the loan worked out at the figure less the 5.5% and-or 10% discount rate? On page 42 of the report, it sets out how the board approved a 5.5% discount for evaluating potential transactions and commercial decisions. The analysis shows on page 44 that the board uses this 5.5% rate for the estimate net present...

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)

Bobby Aylward: I understand. I was waiting for the bell.

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)

Bobby Aylward: No member has seen 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)

Bobby Aylward: We have had a problem since we started about the 5.5% discount and the 10% discount. That has to be explained properly to us. We need to understand the reason the discount rates were applied.

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)

Bobby Aylward: Is Mr. Moriarty saying that the 10% impairment on the Northern Ireland portfolios, but up to then the rate of impairment was 5.5%?

Written Answers — Department of Education and Skills: School Costs (25 Oct 2016)

Bobby Aylward: 211. To ask the Minister for Education and Skills if he will address the huge disparity in school costs which exist from school to school throughout the country and the inequality faced by parents by providing funding for a free primary education system as costed at €103 million by a charity (details supplied); and if he will make a statement on the matter. [31767/16]

Written Answers — Department of Agriculture, Food and the Marine: Targeted Agricultural Modernisation Scheme (20 Oct 2016)

Bobby Aylward: 249. To ask the Minister for Agriculture, Food and the Marine when decisions are expected to be issued on applications lodged under tranche 3 of TAMS 2; if his attention has been drawn to the fact that dairy farmers will be subjected to a very short timeline in which to complete necessary works to milking parlours and associated machinery in advance of calving if decisions are not returned as...

Other Questions: Speech and Language Therapy Provision (18 Oct 2016)

Bobby Aylward: He is like a hare.

Other Questions: Hospital Waiting Lists (18 Oct 2016)

Bobby Aylward: Waterford joined the South-South West Hospitals Group in May 2013 and the waiting list for inpatient day cases since then makes for interesting reading. My statistics do not compare with the Minister's. I will cite mine. Overall, the group's list is up 48% since May 2013, well below the national average of 62%, but Waterford has increased by 159% whereas Cork University Hospital, CUH, has...

Other Questions: Hospital Waiting Lists (18 Oct 2016)

Bobby Aylward: The Minister stated that he was due to visit the hospital shortly. Will he put these figures to its management? Will he ask management to explain such a hike in the numbers? There are 30,992 people awaiting outpatient consultations, an increase of 16% since last December. Why is that? It would be remiss of me not to ask the Minister whether he will meet the consultants in Waterford and...