Results 9,441-9,460 of 21,440 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) (22 Nov 2016)
Mary Lou McDonald: To bid for a gig like this, to sell a portfolio of this magnitude ordinarily there would be quite a rigorous selection process would there not?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: I am aware of that but I am not asking about that. I would like Mr. Long to focus on the fact and to confirm for me and the committee that it was most irregular to become a loan adviser on the sale of such a portfolio with no procurement process.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: We will come to that. Can Mr. Long just confirm that I have it right that this was most unusual, unique and irregular?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Has Lazard ever got to be loan adviser on a portfolio of that scale? He cited for instance, project Isobel and Octopus, unless I was mishearing. I assume Lazard had to go through a tendering process for both of those.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: It was to be NAMA's standard procedure that there would be such a process. Mr. Long then got a verbal briefing.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: That was from Ronnie Hanna I presume.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Does Mr. Long have any contemporaneous note of what was said to him in that briefing?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Can we see those notes or would there be a difficulty in our having access to the original notes?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Was it unusual for Mr. Long to be briefed on a transaction of this scale and for it to be reduced to a verbal briefing?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: We will come to that in a moment. Mr. Long was verbally briefed. According to the Comptroller an Auditor General’s report, he does not have a valuation role in respect of the portfolio, he advises on marketing but only in a very circumscribed way because the board had taken a position on the transaction. Am I also right in saying that he did not control the data room?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Why was that?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: I am assuming in the course of any transaction the information and data is in the possession of the client that Lazard is representing. That was hardly unusual in the case of NAMA.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Would Lazard ordinarily be the overseer of the data room?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: What reason was Lazard given? Ronnie Hanna would have run the asset recovery gig? Was Lazard given a reason or rationale for that?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Is "entirely"?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Irrelevant.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: It would have meant that it rather than Lazard would have had a sense of who was accessing the data room, what the dynamic was, who was shaping up to make a bid, who was not. Is that right?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Lazard did not need to have the oversight of the data room but NAMA did.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: How was it more efficient for it to have it rather than Lazard?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)
Mary Lou McDonald: Would it not have afforded it a greater level of control?