Results 9,041-9,060 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: -----the events at this committee, I suspect it will hear what Mr. Daly has said-----
- 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: -----more in line with how I hear it, because I hear Mr. Daly saying PIMCO was incomplete with important information, which it did not give to NAMA, and then it wrote to us and its presentation of the facts was inaccurate. I am simply saying these are very serious charges for Mr. Daly to make and it begs a response 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: Yes, you have.
- 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: Well you have, in fact. I wish to ask Ms O'Reilly about the telephone call of 12 March. Am I right in saying this was the only call in which Ms O'Reilly was involved?
- 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, I thought as much. In the course of this call is the point at which PIMCO said it was out and it made that decision. It also said, not unreasonably, it would have expected disclosures to have been made. Mr. Tom Rice said that on the fees side PIMCO would have expected disclosures, given that £15 million to £16 million was the quantum of fees involved. Who did it think ought...
- 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: Okay, so PIMCO was not saying there it had an expectation that Brown Rudnick or Tughans-----
- 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: This conversation was all about Frank Cushnahan. Tell me Ms O'Reilly, PIMCO was obviously quite exercised by this and I understand that. This is the last thing someone needs when in the middle of a big complicated deal. I have no doubt dozens and dozens of people worked to the best of their capacity and in absolute good faith and then bang, they were in the middle of this. What did Ms...
- 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: She is the woman charged with keeping things on the straight and narrow, legally speaking. The buck stops with her, as they say. So, what did she ask of Mr. Rice?
- 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: You were not part of those conversations.
- 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: Okay.
- 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: Okay, but £15 million or £16 million is a huge amount of money and we can tell, even from the way the note was written and recorded, that PIMCO was angry and anxious about all of this. Ms O'Reilly did not ask, is the point I am getting at, as the senior legal person, to establish for herself and for the record when it was that Frank Cushnahan first had an engagement and involvement...
- 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 us not speculate on 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: I thank Ms O'Reilly for the context. Let the record reflect that Ms O'Reilly did not put the direct question to Mr. Rice as to when that engagement first happened. That is her evidence.
- 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 accept that because I am establishing that she did not put the question. Can we move on to 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)
Mary Lou McDonald: As it happens, in this scenario we are the people asking the questions. Anyway, the reference Ms O'Reilly refers to is record 3, where Ronnie Hanna asks when PIMCO became aware of the issue to which Mr. Rice replies that the Project Eagle process had been with NAMA for several months and he references April-May 2013. It is not very elegantly recorded but that is the date, the reference...
- 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 Ms O'Reilly refers to advisers, to whom is she referring?
- 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 presume implicit in all of this is that Ms O'Reilly had no obligation to report elsewhere-----
- 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 terms of any breaches or-----
- 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: Fantastic. I can only take from this that Ms O'Reilly, as the person in charge and to keep everything on the straight and narrow, did not ask direct questions in respect of Mr. Cushnahan and the point at which he first gets involved or has an association or an arrangement with PIMCO. Ms O'Reilly has given reasons for that. Be that as it may, she did not ask the question. She is aware, 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: Obviously, had Ms O'Reilly done the requisite spade work or if my instinct was correct, which Ms O'Reilly denies, that she did know of Frank Cushnahan's involvement around April-May 2013, there would have been an obligation on her to report, would there not?