Results 9,701-9,720 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: Although Mr. Cushnahan had been in the middle of the previous controversy. Cerberus then engaged their services on 24 March and we have established that it was bringing to the table information on debtors and assets. Interestingly, Mr. Neporent refers to an abstract of each loan, a view of the debt, business plans, etc. NAMA's testimony to the committee is that the debtors were being very...

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 sorry if this sounds like a simplistic question-----

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 to whom was the information given that it had brought to the table? Who on Cerberus' side took possession of the abstracts, business plans and so on?

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 is a roll-up team or deal team.

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 makes absolute sense to me. It is to them that the information would go.

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 the witness saying they did not get the information until 24 March?

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: Okay. That is fair enough. That demonstrates that Cerberus was not blindly taking a chance on the £15 million. It is entirely reasonable and sensible, and the company had to a have a sense that it was getting quality information. It established that by virtue of having sight of a number of samples, as the witness referred to them. It makes perfect sense to me. Not that I will ever...

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 24 March, they were officially engaged and on 25 March, Mr. Dan Quayle was in Stormont meeting Mr. Peter Robinson, former First Minister, Mr. Simon Hamilton, also of the Democratic Unionist Party and taken on as Minister for Finance and Personnel, and Mr. Ian Coulter of Tughans.

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: Okay. I was going to raise that with the witness.

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 letter of intent.

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: Whatever misgivings the witness may have had around the quality of the debtor information being brought to the table, he could have been in no doubt as to their commitment to hook the company in with the relevant stakeholders. They were engaged on 24 March and, lo and behold, they were meeting the First Minister on 25 March, which is literally the day afterwards. They were as good as their...

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 agree on 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: At the meeting this letter was handed over to Mr. Peter Robinson. Is there a note somewhere or a minute of what transpired at that 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: Is there anything we might have access to?

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 the witness could consider it, it would be most helpful. On 31 March, the meeting occurs as the Chairman has indicated. In this case it involves Mr. Frank Daly, and Mr. McDonagh was at the meeting. The Minister for Finance, Deputy Noonan, and senior officials from the Department were also party to the meeting. Who accompanied Mr. Snow to the meeting from 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: Unlike in the North, Cerberus does not have anybody from Tughans or its partners at Brown Rudnick making an appearance at the Southern meeting. I am just making that as an observation. It is interesting, is it 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: Is it not a bit odd that the very persons being paid very generously and quite handsomely to facilitate the interaction with the stakeholders were not at the meeting? Who set up that 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: Given that Mr. Ian Coulter was there, it seems Brown Rudnick and Tughans or whatever combination of those parties set up the Northern meeting. Did they set up the Southern 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: The company was paying them to get Cerberus plugged in with the stakeholders. Was that not 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: Will the witness find out?