Results 13,801-13,820 of 20,884 for speaker:Alan Kelly

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)

Alan Kelly: That is actually an answer, to be fair to Mr. Mulcahy. Usually for a loan sale, NAMA loan sale advisers provide advice on sales strategy, market conditions, estimated values of portfolio, etc. None of this happened with Project Eagle, yet it was the first large multi-debtor sale. Why was this advice not sought?

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)

Alan Kelly: Mr. Corrigan might be in a better position to answer the question.

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)

Alan Kelly: NAMA's loan sale advisers provide advice on loan sale strategies, market conditions and estimated values of the portfolio. None of this occurred in respect of Project Eagle. Given that it was NAMA's first large multi-debtor sale, why was this the case? Why was the advice not sought?

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)

Alan Kelly: I will conclude-----

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)

Alan Kelly: In fairness to Deputy McDonald, it is a good question, because there does seem to be a change. Let us find out the facts.

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)

Alan Kelly: That was my next question.

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)

Alan Kelly: My final question is specifically addressed to Mr. Corrigan. In or around February 2014, it became widely known that the loans were on the market. Therefore, the process of a confidential loan sale was out of the window. It was over, it was gone. The committee is struggling with an issue. At this point, given that the confidential nature of it was over and everything was out in the open,...

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)

Alan Kelly: It was all concluded pretty quickly.

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)

Alan Kelly: Did the board think it appropriate to reassess it at any time during the process?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: I am interested in establishing fact and I am interested in establishing the opinion of Mr. McGuinness on a number issues. Deputy Peter Burke raised the issue of the phone call and this is new information to us. There is a contribution from Mr. McGuinness in this phone call that is not recorded in the minute. Was he not concerned that it was not recorded? Can he send this committee an...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: And with hindsight?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: We are now giving Mr. McGuinness an opportunity to put an addendum on the record that will disclose his contribution.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: Returning to the deal that subsequently went through, either Northern Ireland was going to gain or the Republic of Ireland was going to lose. Does Mr. McGuinness believe that, given the outcome, in order for the Northern Ireland economy to be protected, the Republic of Ireland taxpayer had to lose?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: I am not, I am just asking for Mr. McGuinness's opinion.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: I will come at it from another angle.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: I am not at that level yet. Mr. McGuinness has been always perceived as a hands-on person. He has outlined the political dynamic of the time and the argument he had with the First Minister on the peace conference and other things. That is the context and we welcome that as it is not something of which we would have been aware. There are always dynamics in politics - believe me, I have...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: Has Mr. McGuinness read the document?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: If this, or a version of it, went through, would it be legal?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: I did not ask that. I asked if Mr. McGuinness thinks it would have been legal.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (16 Nov 2016)

Alan Kelly: There are fundamental issues relating to commitments to using Northern Ireland contractors, tendering and other things and I am shocked that this was not brought to Mr. McGuinness's attention. I am also shocked that a senior, experienced and well-qualified adviser would not have said that something must have been happening, given the request for all personal guarantees and security to be...