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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Who carries out those interactions? Is it Mr. Reid?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Mr. Reid is the NAMA person. Do some of those interactions include Mr. Reid being part of or attending NAMA audit committee meetings?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Mr. Reid has no involvement?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Does he get reports from the audit committees?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Does the Department get copies of the board minutes?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Can the witnesses describe to me the dynamic of the interaction with NAMA? What information does it get? What raw material does it have access to and sight of? Perhaps Mr. Reid is best placed to help me.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: So the Department would not have access to the kind of documentation we as a committee have sight of in the course of this examination?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Tell me then, when this briefing pack was put together on 11 July 2015------

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: This is the one I have. It is dated 11 July. Where did the Department get the information to put this together?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: It is a fairly comprehensive piece. It zeros in. Obviously, it is about Project Eagle, because that is what we are here to examine - the Comptroller and Auditor General - and that goes through everything, including the issues that are outside the remit of the committee, the crime agency investigations and so on. It deals with the withdrawal of PIMCO, the circumstances of the withdrawal of...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Who gave the Department the run-down on the withdrawal of PIMCO?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: The Department wrote the document.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: It is 11 July 2015. We have used this document at committee before, so it is not its first outing. At a high level - and to give the members some insight - a lot of these may or may not have come up in the context of parliamentary questions or they could have come up in Dáil debates in the process of preparing for each of those individual interactions, and in helping he Minister to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Okay so tell me specifically about the withdrawal of PIMCO. Mr. Reid may want to refer to page ten of the report.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Did NAMA disclose to Mr. Reid, all of the details with regard to PIMCO's approach to them, PIMCO's disclosure around the success fees, fixer fees 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) (10 Nov 2016)

Mary Lou McDonald: Okay, and somebody told the witness. I am just trying to establish who. NAMA gave Mr. Reid this information, 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) (10 Nov 2016)

Mary Lou McDonald: Did NAMA indicate to Mr. Reid that the relationship with PIMCO, Brown Rudnick, Tughans and so on, went back to April 2013?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: The witness was not aware of that.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Perhaps Mr. Reid could take the committee through what it was he was led to believe.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Mary Lou McDonald: Okay. At no stage was any suggestion about a prior relationship - going back as far as April 2013 - ever raised with Mr. Reid?

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