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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Mr. Daly should remind me the next time he is going gambling and I will seek advice from him. In respect of Mr. Cushnahan - a Walter Mitty-type character who makes a considerable number of appearances throughout in the documentation - did NAMA ever enforce on any of the six or seven debtors that Mr. Cushnahan was-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: How many?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: When?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Out of the six or seven, were they significant players as regards-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did Mr. Cushnahan submit a statement of interests to NAMA on an annual basis, as required under the 2009 code of governance regarding State bodies? Did he do it each year?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did Mr. Daly, as chairman, ensure that all procedures in place to protect against conflicts of interest under that code - sections 2.6, 2.7 and 5.5 - were adhered 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)

Alan Kelly: Is Mr. Daly satisfied absolutely? Did he refer back to the compliance division in the NTMA at all times?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I need to get on the record that Mr. Daly is 100%-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: We can come back to that as needs be. When did NAMA tell the Department of Finance about the success fees and PIMCO?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did Mr. Daly ask them for any advice, subsequently?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did they offer any advice, subsequently?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Was there surprise?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Was there shock?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did Mr. Daly feel - I accept this is subjective - that as a result of that the Department would be taking action or would be referencing that into the future? In other words, it would feed into the political context of the Department.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Okay. In regard to the same Department, did Mr. Daly have any conversations on the Comptroller and Auditor General and the standards of expertise staff etc. as a result of the engagement process over the four different report versions that he saw?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: There were discussions on the expertise and competence of the Comptroller and Auditor General .

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did the Department officials express any opinion on which Mr. Daly would like to elaborate?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: In regard to Lazard - we will have to come back to this issue eventually - the fact that it received £4.3 million for a role that was very confined in comparison with the roles of organisations of similar type in regard to other projects is perplexing. Why was it not involved in portfolio valuations and the sales process? Why was it not asked to be involved in that process? Why,...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Why was Lazard not briefed on the objective of the loan sale?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: In detail?

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