Results 3,501-3,520 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 (29 Sep 2016)

Bobby Aylward: There are already two investigations into the sale and we will probably have another one in the future. Has Mr. McCarthy any comment on that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: I know. I just thought I would push it in there as a question. It is unbelievable that two institutions of the State, the Comptroller and Auditor General and NAMA, are here today and the second of these, NAMA, is saying the Comptroller and Auditor General is inexperienced and his report has a narrow interpretation of its situation. Does Mr. McCarthy feel that is unfair? Does he feel it is...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: Will this have implications for the future? The Comptroller and Auditor General will continue to audit, so will it have personal implications for NAMA and his office?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: To clarify, did the Comptroller and Auditor General have any correspondence with the NIAB or Lazard during this investigation?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: And with the NIAB?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: The Northern Ireland advisory board.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: Perhaps people might hold up their hand if they were contacted.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: My first question is to the Chairman. Is there a possibility we will get PIMCO representatives in here to ask them questions directly?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: I hope we will make a request to them.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: I would like to see it happening anyway.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: To go back to the sequence of events again, PIMCO was the original bidder. It wanted a closed sale. NAMA rejected that. It was still in the running until NAMA found out about the success fees. Then, according to the delegates' own evidence today, NAMA excluded it. Whether it was excluded or it withdrew or it was requested of them is still open to interpretation.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: That is okay. That is an explanation. When PIMCO was excluded, were Cerberus and the others on the scene at the time? Were they bidding at that stage? Were the other eight or nine that were not bidding involved? PIMCO was excluded.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: That clarifies that. In the final analysis, Cerberus was the winner but why was the other name withdrawn, excluded or not in the open?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: It was Fortis. Sorry, I did not know that. That explains it. NAMA made a big play about the Comptroller and Auditor General's refusal to meet NAMA board members. The witnesses argue it was wrong and it would have made a difference if there had been a meeting. Will they elaborate on that? What difference would it have made to the Comptroller and Auditor General? He gave reasons today...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: With regard to the bulk sale, as against individual or small-scale sales in Northern Ireland, there was mention that because Northern Ireland is a small economy, the agency did not want an adverse effect on it. Why was the relationship with Northern Ireland debtors deteriorating? There was mention of political consequences as well as impairment. Was that an influence on the decision to go...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: In what sense were they not co-operating?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: Were there evaluation criteria for five years ahead?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: One of the last statements today from the Comptroller and Auditor General came when he was asked by the Chairman about the method used and his opinion on the procedure followed by NAMA in the sale. He stated something along the lines of he did not think it was the best practice and a better method or system could have been used. What is the delegation's take on that? Have they anything to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: I do not think, as I said, what Mr. Daly is saying back to me is relevant. Mr. Daly has said several times that NAMA followed the best possible practice in the sale, that there is nothing to be gained or learned out of this and that the Comptroller and Auditor General's opinion is just his opinion. NAMA just dismisses it and says it has nothing to learn.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Bobby Aylward: I have to ask the following although Mr. Daly will probably not answer. I have already asked the Comptroller and Auditor General. Does Mr. Daly believe there was any personal gain or inside dealing in the process in Northern Ireland from the word go? Perhaps Mr. Daly cannot comment on it, but I ask if there is any comment on it.