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Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Is Mr. Daly saying Mr. Cushnahan had no confidential information?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Why did Mr. Daly not tell him to go ahead, given that it did not matter?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: That is right.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: He did not know anything.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Did he know anything that was confidential?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Could he have been any use to PIMCO?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Then maybe Mr. Daly should have let PIMCO stay in.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Of course he should have.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: No, Mr. Daly is.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: I am not. I am saying it would be consistent with Mr. Daly's stand, given that I do not believe for one moment he did not know things which were material. I think he knew a large number of things which were material.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: I refer Mr. Daly to the reports of the Northern Ireland advisory committee. The 2010-11 one states: "The Committee continues to review all opportunities to bring creative and innovative solutions in respect of NAMA’s portfolio in the expectation that this will also deliver benefits to the communities across Northern Ireland." In several other cases it pays great credit to Mr....

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: It refers to sales strategy. It refers to the strategy of the committee and the portfolio in other places. It refers to overview of the Northern Ireland portfolio. If he is overviewing the portfolio, how can he do it without knowing what is in it?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Then why does NAMA need a board?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: So Mr. Daly is saying that he was pretending that he had the inside track. He could have.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Mr. Daly asked me about the strategic positioning. I will just quote something about the committee in, I think, 2010. It is from the Department's website last night.The Committee continues to review all strategic opportunities to bring creative and innovative solutions in respect of NAMA’s portfolio in Northern Ireland. To that end the Committee benefitted enormously during 2013...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: I think it is the 2013 or 2014 Northern Ireland advisory committee annual report.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: That is from Mr. Daly.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: It is his own report and he stated that they review strategic opportunities of the portfolio and it goes on to pay great tribute, particularly to Frank Cushnahan.

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: How can one tell what the strategic opportunities for a portfolio are, if one does not know what is in the portfolio?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Shane Ross: Okay, we will go on. Why was Project Eagle sold in one job lot?

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