Results 9,641-9,660 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) (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”?
- 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 a concern in acquiring the portfolio that Cerberus would have a level of compliance and agreement with the debtors whose loans the company was acquiring?
- 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: Did the engagement by Cerberus of Brown Rudnick, Tughans and Mr. Cushnahan, as we know now about the latter but Mr. Neporent did not know at the time, effectively deliver for him that kind of calm, compliant co-operative relationship with those debtors?
- 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 am using 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: The witness did not need Brown Rudnick to tell Cerberus that and Cerberus did not need to spend - my God - £15 million to make those systemic discoveries. I put it to Mr. Neporent that for its £15 million Cerberus got extensive debtor information, which we have agreed on. My question now is whether or not Cerberus got something else, which was the comfort - not unreasonable from...
- 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 has told the committee that Mr. Cushnahan had an involvement with Tughans and, in turn, with Brown Rudnick. Perhaps Mr. Neporent can confirm for the committee that he - at the time that Cerberus engaged Brown Rudnick - did not know of the circumstances in which PIMCO had withdrawn from the bidding process.
- 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 am not asking the witness to do that. I am asking if he knew, or not, about PIMCO and the reason for its withdrawal. I assume that he did not.
- 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 Cerberus was not told that Frank Cushnahan was lined up for a success fee or a fixer's fee?
- 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 kept from Cerberus. Perhaps Mr. Neporent will tell me this much - at what stage was NAMA or anybody involved with NAMA told that Cerberus had engaged 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: What about the meeting on 31 March, attended by John Snow? Is his position vice president?