Results 10,181-10,200 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) (13 Oct 2016)
Mary Lou McDonald: I entirely agree.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: I thank Mr. Rowntree. Bullet point No. 4 is the most intriguing for our purposes. It states a discount would be sought - naturally, we all live in the real world - therefore, the question of value is key for NAMA - sell versus hold. Mr. Rowntree does not recall who made the point about the discount.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: Therefore, the discount would have been a key issue. What was Mr. Rowntree's understanding of the discount level applied generally? Would he have been privy to that?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: I refer to what the records reflect at that early stage. Even though preliminary discussions had been had with PIMCO - Mr. Rowntree can only speak for himself; Mr. Cushnahan obviously is a different person with a different history in these matters - the issue of discount is there. I assume that Mr. Rowntree would have assumed that on a matter like discounting the debtor portfolio, NAMA...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: So there would be a rationale for the application of whatever discount rate was arrived at?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: It is public money.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: I am reading from the minutes of a meeting of the Northern Ireland advisory committee on 7 October.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: Pardon me, I should have said it. Does Mr. Rowntree recall anything else - any nuggets of wisdom - from that exchange I have missed?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: What was Mr. Rowntree's view regarding what should have happened?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: The discussion included external member feedback, meaning Mr. Rowntree, on the proposed approach to support the board's decision on the matter at its meeting on 10 October 2013.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: So the board was seeking Mr. Rowntree's nod or-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: Was it asking for Mr. Rowntree's imprimatur, acquiescence or agreement regarding this approach?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: I accept that but-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: So Mr. Rowntree thought it was worth exploring.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: I assume Mr. Rowntree makes that remark of consideration based on a very rigorous examination of the decision to sell the portfolio and at what rate and value-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: Okay. It then gets very interesting. That happened on 7 October. The board met on 10 October, approved it and said it was going to examine the proposal. By early December, the indicative offer from PIMCO was on the table and by late December moving into early January, there was approval to dispose of the thing so it happened very quickly. Maybe that is the way these things happen. I...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: At that stage, the indicative offer was on the table. At that meeting in December, an update regarding the University of Ulster at Jordanstown project was provided.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: What I do not see is an update regarding-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: -----PIMCO and Project Eagle.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)
Mary Lou McDonald: It appeared that the eagle had flown.