Results 9,381-9,400 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: I thank Mr. Neporent for his continued co-operation. Did Cerberus have dealings with Brown Rudnick prior to Project Eagle?

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: A contemporary.

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 suspected that might have been the case because just as Cerberus is a large player on the field, so too is Brown Rudnick; it is a considerable player. There was a history of dealing between Cerberus and Brown Rudnick.

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 did Tuvi Keinan call when he cold-called Cerberus about offering its services?

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: Robert-----

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.

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: They had worked together in Morgan Stanley.

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: Would it be fair to say that when they worked together in Morgan Stanley, they worked on the acquisition of a NAMA loan or 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: If Mr. Neporent cared to suss it out and examine it, he would find it to be the case. I know it for certain in the case of Mr. Keinan because I have correspondence from Mr. Frank Daly which confirms that there was interaction between NAMA and Mr. Keinan when he worked for Morgan Stanley. Perhaps Mr. Neporent might recall this. It is a matter of public record.

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 wonder if Mr. Falls was involved in that transaction.

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 would be interesting to know. There was a personal relationship between Mr. Keinan and Mr. Falls. I am attributing nothing to Mr. Falls, whose name has not featured at all. Looking at the time line and how all of this happened, on 12 March PIMCO withdrew because it had rumbled that a fee was payable to Mr. Cushnahan and was uncomfortable about it. In fact, it got in touch with NAMA...

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 compliance people became anxious and made contact with NAMA. NAMA has asserted that PIMCO was told to leave the process, but PIMCO is absolutely resolute that it left because it was unhappy that there had been a breach of compliance. It is resolute on the matter. Did Mr. Keinan or anyone else at any stage say to Mr. Neporent that PIMCO had left or that it was told to leave?

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. Neporent tells us that on 14 March contact was made with Cerberus.

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 he passed it to Mr. Neporent. 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: On what date did it reach Mr. Neporent's desk?

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: St. Patrick's Day. How appropriate that it was on St. Patrick's Day?

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: According to Mr. Neporent, what transpired was that discussions were held in London. He stated, "Prior to engaging Brown Rudnick, the Cerberus legal and compliance team held discussions with Mr. Keinan and ... other partners at Brown Rudnick, including a partner based in London who had previously been ... head of enforcement."

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: Is it at that stage that Mr. Neporent figured out and looked for the assurances on the non-disclosure agreement and what could and could not be shared?

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; absolutely.

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.