Results 8,941-8,960 of 21,149 for speaker:Mary Lou McDonald

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)

Mary Lou McDonald: Mr. Stewart has the letter from PIMCO.

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)

Mary Lou McDonald: It stated: "In April 2013, PIMCO was approached by Mr. Tuvi Keinan, a partner at the law firm Brown Rudnick who then introduced PIMCO to Mr. Ian Coulter of Tughans and Mr. Frank Cushnahan", who was part of NAMA at the time, given that he was a member of NAMA's Northern Ireland advisory committee.

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)

Mary Lou McDonald: Mr. Stewart, the gentleman, whom I will refer to as Mr. Stewart's boss, if that is not disrespectful to him, chaired the Northern committee. Please do not dance on the head of that particular pin. I would find it quite disconcerting.

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)

Mary Lou McDonald: Let me repeat this, for the purposes of clarity.

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)

Mary Lou McDonald: In April 2013, PIMCO was approached by Brown Rudnick and introduced to Tughans, in the person of Mr. Ian Coulter, and Mr. Frank Cushnahan, who was a member of NAMA's Northern Ireland advisory committee. From their point of view, it was not unreasonable for Mr. Rice to reference a NAMA involvement back to April-May 2013, given that it was the PIMCO experience. That is what that reference in...

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)

Mary Lou McDonald: Mr. Stewart was on the call and I am sure he would not mislead me or the committee.

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)

Mary Lou McDonald: I am speaking to Mr. Stewart, thank you.

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)

Mary Lou McDonald: I do not disagree with much of what Mr. Stewart said. It is his perfect right to expect this level of clarity. I would go further and say he had an absolute responsibility to demand that kind of clarity at that point. We are not in disagreement.

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)

Mary Lou McDonald: On 11 March 2014, Mr. Stewart had become aware that as far as PIMCO and Mr. Tom Rice were concerned - Mr. Stewart says it is wrong - there was a NAMA involvement in the transaction going back to April-May 2013.

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)

Mary Lou McDonald: That is not my reading of it.

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)

Mary Lou McDonald: Mr. Stewart was on the call and I am reading his record of the call.

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)

Mary Lou McDonald: Excuse me, what matters is what is on the record here.

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)

Mary Lou McDonald: They are your notes, and it was Mr. Rice's impression, and he echoes it in their correspondence with the committee in this month of November that they understood there was a NAMA involvement in the arrangement going back to April or May 2013. Mr. Stewart disagrees. That was their impression.

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)

Mary Lou McDonald: Mr. Stewart can tell me about it later. Will he, please, stick to this issue? This development dates back to the origination of the deal with PIMCO and the proposal in respect of an acquisition B. It was not something that had popped up out of nowhere; it was part of the arrangement from the get-go when PIMCO was approached. The split was mentioned some time ago. He was telling NAMA 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)

Mary Lou McDonald: All of this happened and during all of the time Mr. Rice was telling Mr. Stewart - I take Mr. Stewart at his word that it might not have been made as clear as this - Mr. Cushnahan was still a member of the Northern committee of NAMA.

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)

Mary Lou McDonald: Will Mr. Stewart, please, listen and not try to confuse matters? I am saying he was giving Mr. Stewart an account of things that had happened prior to the March date. Mr. Stewart is well aware of this.

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)

Mary Lou McDonald: As he described to Mr. Stewart his understanding of an involvement with NAMA, the origins of a fee, the fact that it had previously come to their attention and they had had a look at it, he was giving dates, during which time Mr. Cushnahan was still a member of the Northern committee of NAMA. Is that not the case? That is what Mr. Stewart's note tells us.

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)

Mary Lou McDonald: He referred to the second half of 2013.

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)

Mary Lou McDonald: When did Mr. Cushnahan step down?

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)

Mary Lou McDonald: Yes, in the tail end of 2013. Earlier my colleague raised the issue of the minutes with Mr. Daly. Mr. Stewart is a legal practitioner. Perhaps he might tell the committee about his understanding of the status of minutes in legal terms.