Results 6,881-6,900 of 7,283 for speaker:Josepha Madigan
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)
Josepha Madigan: It meant "possible".
- Written Answers — Department of Education and Skills: School Admissions (23 Nov 2016)
Josepha Madigan: 87. To ask the Minister for Education and Skills if his Department will publish standard guidelines on opt outing of faith formation in order that all schools can use them as a template in order that they can be in accordance with the requirement under the Education (Admissions to School) Bill 2016; and if he will make a statement on the matter. [36484/16]
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: I thank Mr. Long for being here today. A couple of things have struck me about the sales process. Does Mr. Long think any aspect of the sales process was unusual compared with standard practice of a loan sale of this size, in Lazard's view?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: It is very helpful of Mr. Long to say that was unusual.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: That struck me reading the Comptroller and Auditor General's report. The loan sale advisers for Project Arrow have said that it is not market practice to have a single marketing phase. As Mr. Long said earlier, he was employed to engage in a marketing process on behalf of NAMA.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Why does Mr. Long think NAMA wanted to do so? Earlier I was struck by a comment made by Mr. Long that it was his sense, which was the word he used-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: -----that NAMA did not want to lose PIMCO-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: -----from the process.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Later Mr. Long said it was kind of irrelevant because PIMCO did not secure the bid anyway.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Still, that is quite an important aspect. I do not think NAMA should give preferential treatment to any potential bidder.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: If Mr. Long's sense or prevailing sense as he said is that NAMA were because it did not want to lose PIMCO. I ask Mr. Long to elaborate on the matter.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: The matter is very concerning.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: The transfer expertise of Brown Rudnick and Tughans from PIMCO to Cerberus seems unusual to me. Has Mr. Long seen that happen before in anything like this?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Does Mr. Long believe it conferred unfair advantage on Cerberus?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: If Mr. Long were a betting man what would he think?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: I appreciate Mr. Long's difficulty in answering my question. Are success fees, to Mr. Long's knowledge, standard practice in the industry?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: How was Lazard's success fee calculated? Was it calculated as a percentage?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Is Mr. Long of the view that Lazard's was impartial in the sales process?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: I note that some firms requested an extension of time but were denied same. They had wanted to carry out due diligence but were refused an extension. NAMA, subsequently, agreed to extend the time by two weeks for the two remaining firms - Cerberus and Fortress.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Josepha Madigan: Why was an extended time granted to the two firms and not others?