Results 81-100 of 429 for nama 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: How is that relevant, even if that were the case? Lazard was taken on in the circumstances I have described as the loan adviser. One of the key elements signed off with NAMA is the issue around contact with debtors. I have put it to the witness, Cerberus has confirmed it and we know through the goings on with PIMCO that this was absolutely breached. It was decimated. It did not stand up...

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: He is accepting that it is the case. Of course, that advantage accrued to PIMCO because NAMA afforded it that advantage.

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: Hang on a minute, Mr. Long. Nobody else was selling this portfolio. The only people who could have conferred that advantage were in NAMA.

Public Accounts Committee: Business of Committee (17 Nov 2016)

Mary Lou McDonald: Yes, NAMA's head of legal should be here.

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: ...splutter as I have a dose of illness. I have a number of questions and I will start with Mr. Mulcahy. His role was head of asset management. Will he explain briefly the relationship he had with NAMA debtors in the carrying out of his function?

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: There is the 10% issue and I do not want to get into the innards of that discussion again. It emerges as an issue much later. NAMA raised it as a defence in explaining its decision making after the fact in 2016, producing evidence to support the approach after the fact then. Is that right in the timeline of events?

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 lack of status of the memorandum of understanding - it was not a document of the Northern Executive, and that is a statement of fact and not opinion - there had been a discussion within NAMA or a realisation that PIMCO was minded to act in this fashion. That is what the paper reflects, does 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: ...purposes of Project Eagle, I am interested in the North. Mr. Ronnie Hanna is the person in charge of interactions with debtors. Clearly, Chairman, Mr. Ronnie Hanna and whoever he assigned within NAMA has paperwork to demonstrate the volatility or the difficult relationships with these debtors. Will Mr. Mulcahy tell me about his dealings with Northern debtors? Who were they and what...

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 I want is clarity. Let me cut to the chase. I want to understand the relationship between NAMA and the debtors, why the witness keeps saying the Northern Ireland debtors were so difficult, they were a night 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: When there was a move from what had been the agreed working out strategy that the Comptroller and Auditor General quite correctly assesses, because that was the NAMA gameplan, not his, to a position where there was a reverse inquiry and where there was the potential of bundling up and selling off the loan portfolio, was the demeanour of the debtors an issue for Mr. Corrigan?

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: ...this was a typo. He subsequently clarified for the committee that it is not a typo and that the date is correct. That date, as Mr. Corrigan will know, pre-dates the unsolicited approach to NAMA by Brown Rudnick. What I want to know is why that date of April 2013 is in there? I want to tease this out with Mr. Corrigan. This suggests to me that when the board was told about Mr....

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: ...me that this is an outfit that sets out the facts as they are available to it. It is clear to me from the notes of the telephone conversations that those facts were presented, it seems to me, to NAMA through its legal department and to Ronnie Hanna. We can check that again with it. Reading from this, it seems that those same facts were transmitted here. Unless people had nodded off at...

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 will go back and check with the parties to this phone call. I am telling Mr. Corrigan that leaving aside the PIMCO letter, it is in the NAMA board minutes.

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. Corrigan absolutely accepts that, not least because of his former relationship with the NTMA, the compliance unit of which gave compliance support to NAMA. Is that not 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: ...had been a compromising or corruption of the process because of all of that. Why did the board not turn to the NTMA for advice and assistance? Was there any correspondence between the board of NAMA and the NTMA compliance unit?

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: Could I just check with the Comptroller and Auditor General on whether I am correct that NAMA had specifically put in place measures to prevent contact with debtors by bidders?

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: In any event, Mr. Neporent did have a concern in that he was aware of the proviso concerning no contact with the debtors introduced by NAMA, and he had to be concerned that he would not cross that line. He must have been concerned that this was a way of circumventing or avoiding that rule, namely, getting that information by the back door.

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: 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: ...March. The witness is aware that there had been an issue with regard to PIMCO and a scenario, however he understood it, involving Brown Rudnick. Cerberus has engaged Brown Rudnick nonetheless and NAMA was not told of the engagement of Brown Rudnick at that meeting. Is that the case?