Results 7,021-7,040 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) (25 Oct 2016)

Josepha Madigan: I thank Mr. Collison for his - I was going to say evidence but we are not a court - assertions today and for his opening statement which we all received this morning. I will preface my comments by pointing out that anything I say is based on my own reading of what has been presented to the committee. To me, bearing in mind the Comptroller and Auditor General's report, there seems to be a...

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)

Josepha Madigan: Mr. Daly said that also but he did say, as a concession, that he felt that there should be some tweaking and that he would have applied some tweaking. I am just wondering what Mr. Collison thinks he meant by 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)

Josepha Madigan: Is Mr. Collison specifically referring to the board decision?

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)

Josepha Madigan: I have a difficulty with that. I welcome the fact that Mr. Collison thinks that there was room for improvement and that would have been brought forward. However, what Mr. Daly said to this committee is that the board minutes should record decisions, not discussions. He also said that the board decision was unanimous. I would be of the view that it would be a rudimentary exercise to take a...

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)

Josepha Madigan: What does Mr. Collison think of Mr. Daly's response that now he would be happy to provide details of the verbal discussions that took place at the time to the committee. He is now saying that he will provide that. My very simple view is that if he is willing to provide it now, why could it not have been provided at the time?

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)

Josepha Madigan: Does Mr. Collison share that view?

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)

Josepha Madigan: I appreciate that and I think it is helpful that Mr. Daly made the remark to the effect that in future, details of those discussions should be provided. Details of those discussions, which are the basis for the decision making and explain how people formed their views, should be provided. Mr. Daly offered that to this committee when he appeared before us. Does Mr. Collison share that view...

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)

Josepha Madigan: Mr. Daly -----

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)

Josepha Madigan: That is very helpful and I thank Mr. Rooney for that. Mr. Daly also said that running a commercial entity is about making commercial decisions. Does Mr. Collison agree that this was done on this occasion with regard to Project Eagle?

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)

Josepha Madigan: I have a difficulty - perhaps Mr. Collison will clarify - with NAMA's assessment of itself. We have all heard the phrase, "self praise is no praise". In terms of the credit grading, for example, Mr. Collison spoke about 76% being applied to Project Eagle, as the lower debtor credit rating and 36% for the rest of the NAMA portfolio. Is NAMA itself reaching those conclusions? Who is...

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)

Josepha Madigan: That has a knock-on effect in the context of the €190 million that was possibly lost, in terms of the 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)

Josepha Madigan: It is NAMA itself 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)

Josepha Madigan: Are they within NAMA itself?

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)

Josepha Madigan: So, apart from the Comptroller and Auditor General coming in and conducting an independent report on that, there is nobody to say that the process is correct or incorrect, other than NAMA itself.

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)

Josepha Madigan: Would it be abnormal to get a second opinion on 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)

Josepha Madigan: Mr. Collison can at least see where I am coming from, that the valuation comes from within the same institution, so -----

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)

Josepha Madigan: The eye cannot behold itself. It is good to have somebody else look at 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)

Josepha Madigan: It will be very interesting when we speak to the Comptroller and Auditor General, after all of this discussion, to hear his views on this. The same applies to the blended portfolio fair value rate, which Mr. Collison said was, in his view, appropriate given the characteristics of the portfolio. That is why that rate was used. I have a difficulty with self-evaluation, not just for NAMA but...

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)

Josepha Madigan: Mr. Rooney says there is no correct marketing approach. There are plenty of wrong ways too. There should perhaps be more transparency about that approach in future.

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

Josepha Madigan: 236. To ask the Minister for Education and Skills his plans to accommodate students at a school (details supplied) which is set to close; when a new school is expected on the grounds of the school; and if he will make a statement on the matter. [32151/16]