Results 8,741-8,760 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) (17 Nov 2016)
Marc MacSharry: I am conscious that Ms Finan left in December. Was it ever suggested during a discussion that a memorandum of understanding that could be included in any sale negotiations by NAMA might be drawn up to cater for the worries of the Northern Ireland side, or those of the Southern side in the light of NAMA's responsibilities to the taxpayer?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I presume it would have applied between the Northern Ireland Government and the third party which might be the ultimate buyer of-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I would like to put a question to Mr. Corrigan. We heard evidence yesterday from the deputy First Minister in Northern Ireland, Mr. Martin McGuinness, on the specific question of a memorandum of understanding that had emerged. It was prepared by at least one half of the Executive in Northern Ireland. To the best of Mr. McGuinness's recollection - he said he thought he was correct, but he...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Let us leave the context aside for one moment. To Mr. Corrigan's recollection or knowledge, as a board member all through this period, the existence or otherwise of a memorandum of understanding was not party to the sale negotiations, as far as the board had been informed. Would it be fair to say this?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Is it simply that Mr. Corrigan has no recall, or can he confidently say-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Is it the case that Mr. Corrigan could stand corrected or that he was not so aware?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Suffice it to say Mr. Corrigan is sure.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Mr. Corrigan does not believe the board was informed of any memorandum of understanding or its contents, or of anything else around the sale.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: If there was such a memorandum of understanding and it advocated the release of guarantees, would Mr. Corrigan have a view on it?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: It would.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: No.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: The reason I asked the question was to get into the exact question on which Mr. Corrigan had touched. The release of guarantees in a loan sale would have been a factor. Mr. Corrigan has rightly said "it would have affected the value..."
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Will he confirm whether his assumption in making that statement is that it would have affected the value downwards or upwards?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I thank Mr. Corrigan. Has Mr. Mulcahy who has considerable experience as head of the asset management agency and previously in Jones Lang LaSalle ever come across the release of guarantees in any sale by NAMA south of the Border?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I know that Mr. Mulcahy was not, but he has considerable experience in the industry. He was there in the building-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I will ask Mr. Mulcahy about property sales in one second, but for now I would like to ask him whether he would have been aware, even though he was not directly involved in loan sales, of any release of guarantees taking place in any loan or property disposal south of the Border.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: No, I am asking about the release of guarantees taking place as a condition of sale. I will give an example. To Mr. Mulcahy's knowledge, notwithstanding the fact that he was not directly or specifically involved in loan sales, would a memorandum of understanding of this kind ever have been a precondition of the sale of a loan by NAMA to an investment company? Would NAMA have stated, "We...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I have a more specific question. If Mr. Mulcahy was buying a loan book from me, would he ever imagine it being a condition of sale that, as soon as he bought it, he release everybody from their corporate or personal guarantees?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: Would he be surprised, or does he think he never heard of that before?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (17 Nov 2016)
Marc MacSharry: I appreciate that. Equally, Mr. Mulcahy will appreciate-----