Results 9,341-9,360 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: Could I just check with the Comptroller and Auditor General on whether I am correct that NAMA had specifically put in place measures to prevent contact with debtors by bidders?
- 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 debtors were not to be contacted. Was Mr. Neporent aware of that? I am sure he was.
- 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 date did Mr. Neporent understand to be the date of the commencement of the Project Eagle process? Is it correct to say that it was January 2014?
- 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: Yes, February, but Mr. Neporent was aware that the board approved a disposal on 8 January 2014, and that Lazard was also 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)
Mary Lou McDonald: Brown Rudnick said that it had not engaged with debtors from that point onwards.
- 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 it seems that it had engagement with them prior to that date, otherwise how could it have come by the information?
- 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 any event, Mr. Neporent did have a concern in that he was aware of the proviso concerning no contact with the debtors introduced by NAMA, and he had to be concerned that he would not cross that line. He must have been concerned that this was a way of circumventing or avoiding that rule, namely, getting that information by the back door.
- 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: All right. Mr. Neporent told us that Brown Rudnick was formally engaged on 24 March. Is that 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: And the Cerberus bid was submitted on 1 April. Is £15 million not one hell of a fee for a couple of weeks’ work?
- 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: Who were the other stakeholders?
- 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 in other words - I do not wish to put this crudely, but simply and to put it directly - Cerberus paid £15 million for extensive debtor information and access to key stakeholders and players North and South.
- 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: Yes, 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: Cerberus made a commercial decision, but I am trying to boil down the commercial decision that was made, and it amounted to extensive debtor information, including information on business plans, guarantees and so on, plus access to key stakeholders North and South.
- 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 thank Mr. Neporent. He cited the Northern Executive. Who were the key stakeholders in the South, as he understood them?
- 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: As the Cerberus organisation understood them.
- 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 are aware that Vice President Quayle met with Peter Robinson, the then First Minister, not in an official Executive capacity – whatever about that. Who were the persons in the South with whom meetings took place? To whom does Mr. Neporent refer?
- 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 date did the meeting take place?
- 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 might come back to that in due course if we could get greater clarity on those issues. Am in correct in saying there were 56 debtors involved in the Project Eagle northern loan portfolio?
- 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 is correct. I thank Mr. Neporent for the clarification.
- 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 Mr. Neporent aware that the Northern debtors had the reputation in NAMA of being “difficult”?