Results 8,701-8,720 of 14,090 for speaker:Marc MacSharry
- 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)
Marc MacSharry: On the loans?
- 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)
Marc MacSharry: Was it done on Project Tower?
- 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)
Marc MacSharry: So, yes.
- 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)
Marc MacSharry: It was done on Project Tower but not on Project Eagle.
- 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)
Marc MacSharry: Is there any reason this was the case?
- 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)
Marc MacSharry: I know. That is the process. Why did NAMA seek loan valuations-----
- 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)
Marc MacSharry: -----for something which Mr. McDonagh said in other testimony was a better quality portfolio?
- 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)
Marc MacSharry: Why did NAMA value it and not value the Project Eagle loans?
- 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)
Marc MacSharry: Yes, but it is true to say 46% of the security assets did not have recent valuations and the loan valuations were NAMA's internal ones.
- 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)
Marc MacSharry: That is the-----
- 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)
Marc MacSharry: I am right. There was no external valuation of the loans.
- 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)
Marc MacSharry: That is grand. That is that answered. There were up to date valuations on 54% of the underlying security. The data room had valuations from 2009 rather than 2013. Is that-----
- 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)
Marc MacSharry: Were the 2013 valuations higher than the 2009 valuations in the underlying security?
- 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)
Marc MacSharry: They were much lower.
- 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)
Marc MacSharry: Fortress wrote to us. Is the document available? It mentioned under a subheading the rationale for making a bid below the reserve price. It highlighted that an unconditional bid process was required. Fortress also spoke of the quality and completeness of the diligence information available to it. This implies to me it influenced its reasons for going in below the reserve price and seems...
- 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)
Marc MacSharry: On Brown Rudnick and Tughans, does Mr. McDonagh know what information came from PIMCO to Cerberus through them?
- 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)
Marc MacSharry: He also said the information it had was extremely valuable.
- 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)
Marc MacSharry: He was still happy to pay 1.1%.
- 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)
Marc MacSharry: Yes.
- 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)
Marc MacSharry: Is Mr. McDonagh aware of any attempt by anybody to gather debtor information, such as how much they could pay and when they could pay it, in advance of the sale?