Results 9,301-9,320 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) (17 Nov 2016)
Mary Lou McDonald: It certainly would have been. So why is April 2013 in there? The board noted that PIMCO had advice that the negotiations had commenced in April 2013.
- 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)
Mary Lou McDonald: I have gone to the telephone conversation.
- 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)
Mary Lou McDonald: What that tells us is that PIMCO said: "Look, we have a situation here - these guys are in line for success fees; Cushnahan is one of them and he is one of your guys and by the way, this is not a recent happening since he exited the Northern committee, actually this goes right back to April 2013." I am suggesting to Mr. Corrigan that this note suggests that that information was given to the...
- 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)
Mary Lou McDonald: Then why is the date contained in the note?
- 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)
Mary Lou McDonald: Mr. Corrigan was at the meeting.
- 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)
Mary Lou McDonald: I accept that.
- 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)
Mary Lou McDonald: With the greatest of respect to Mr. Corrigan, will he explain to me how it could be that PIMCO wrote to this committee and set out very clearly the chronology of events and who precisely, by name, was involved, dating back to that stage-----
- 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)
Mary Lou McDonald: Hold on. That suggests to me that this is an outfit that sets out the facts as they are available to it. It is clear to me from the notes of the telephone conversations that those facts were presented, it seems to me, to NAMA through its legal department and to Ronnie Hanna. We can check that again with it. Reading from this, it seems that those same facts were transmitted here. Unless...
- 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)
Mary Lou McDonald: We will go back and check with the parties to this phone call. I am telling Mr. Corrigan that leaving aside the PIMCO letter, it is in the NAMA board minutes.
- 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)
Mary Lou McDonald: Mr. Corrigan absolutely accepts that, not least because of his former relationship with the NTMA, the compliance unit of which gave compliance support to NAMA. Is that not correct?
- 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)
Mary Lou McDonald: Had that information been given to Mr. Corrigan, there is no question that it was a reportable matter.
- 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)
Mary Lou McDonald: In respect of when it became apparent that Mr. Cushnahan was in line for these fees, the Minister for Finance has accepted that there had been a compromising or corruption of the process because of all of that. Why did the board not turn to the NTMA for advice and assistance? Was there any correspondence between the board of NAMA and the NTMA compliance unit?
- 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)
Mary Lou McDonald: So the board did not contact the NTMA because it was concerned about reputational damage?
- 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)
Mary Lou McDonald: That was the board's rationale?
- 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)
Mary Lou McDonald: Was there was no contact with the NTMA compliance people because of a concern around reputational damage?
- 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)
Mary Lou McDonald: Was the board concerned about reputational damage to itself?
- 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)
Mary Lou McDonald: Its position remains-----
- 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)
Mary Lou McDonald: For absolute clarity, Mr. Corrigan's statement is that on 13 March 2014, he was not made aware of the involvement of Mr. Cushnahan, Brown Rudnick and others with PIMCO as far back as April 2013. Is that the case?
- 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)
Mary Lou McDonald: But he was aware of the involvement of Brown Rudnick and Tughans. Is that the case?
- 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)
Mary Lou McDonald: This date is in the minutes and none of the witnesses are giving us a satisfactory explanation as to why it is there. God knows, they did not give colour or-----