Results 10,421-10,440 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 (29 Sep 2016)
Mary Lou McDonald: It is a matter of semantics what they are called. Mr. Daly does not know whether the success or fixer's fee was negotiated and agreed in April 2013, which, bear in mind, predates the letters going through the political system and winding their way to him. Why does he not know that and what did he do to establish whether that was the case?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Did Mr. Daly ask for it?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Why did he not ask for it?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Notwithstanding the fact that Mr. Cushnahan was gone from the Northern committee at that stage, I put it to Mr. Daly that he still had a responsibility to establish the chain of events? Having discovered that he was due for one of these fees, and that was what PIMCO was telling Mr. Daly, he had an absolute responsibility to establish exactly when that deal was struck.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: I would find it astonishing, given how frank PIMCO was with Mr. Daly, if it would have refused him that information. I do not believe it would have refused him that.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: I do not accept Mr. Daly's answer. If I might suggest, Chairman, that in our correspondence with PIMCO, given that Mr. Daly did not seek that information, we might pursue that matter directly with PIMCO to see if we get a response from it as to when it was agreed that this fixer's fee would be paid.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: On a previous occasion-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: That is fine, and we will pursue those matters in the appropriate way, but Mr. Daly, as the head of NAMA, could not answer a question I have put to him today that I regard as germane. I would have expected him to establish when Mr. Cushnahan struck this deal in terms of the success fee.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: No. He told me he did not know when Mr. Cushnahan-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: On a previous appearance here, Mr. Daly contended that he got PIMCO to withdraw from the process. That is not true. That had been contested from the get-go by PIMCO but we now have documentary evidence to demonstrate that is not true. Mr. Daly did not get PIMCO to withdraw.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: PIMCO withdrew. I point Mr. Daly to Appendix E in the report - Communications between PIMCO and NAMA. It refers to a conference call on 10 March 2014 and conference calls on 11 and 12 March. I am very sure that Mr. Daly has read these and what they reflect is the series of events in which PIMCO approaches Mr. Daly, tells him what has happened, signals its willingness to leave, signals its...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Let us just go back to the minutes to which Mr. Daly refers-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: We can return to this issue. I will quote from the minutes: "PIMCO, ostensibly in the spirit of transparency, wish to advise NAMA about the success fee arrangement" ... "and sought NAMA's agreement that it was appropriate". Two things strike me. First, there is a hostile vibe in respect of PIMCO which is evident in the use of the words "ostensibly in the spirit of transparency". The issue...
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Let me read from the minutes of 12 March: "PIMCO advised NAMA that it had no option but to withdraw from the process. The fee arrangement was a serious issue for it and NAMA. PIMCO was unwilling to proceed in the absence of disclosure of interest it expected".
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: It would be interesting if we were to hear from PIMCO on whether that version of events tallies with NAMA's.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: That does not change the fact.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: Mr. Daly did not take a decision. There is no record of that decision.
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: I am sorry, a Chathaoirligh, but where is the passage to which Mr. McEnery refers?
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: A Chathaoirligh, just to-----
- Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)
Mary Lou McDonald: When the NAMA delegates comes back, they might also reflect on the fact that it did exercise the flexibility. It ran at 5.5% and then also at 2.5%. Did it not?