Results 14,381-14,400 of 20,422 for speaker:Brian Stanley

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: What you are saying is that it should have been done at the time.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: I refer to the exclusivity of the offer to Clairvue. This is something that when it arises in practice always raises questions not just in respect of NAMA but also other bodies. If one is bringing a car for which one paid €4,000 to a car auction, and the first person one meets inside the gate offers €4,000 and one decides to take it and go home, it would not be good practice,...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: With respect, going by the CEO's earlier answer, it was not carried out by suitably qualified people in the context of a multimillion euro deal such as this.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: The Irish market had but some of these-----

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: A portion of these loans related to the Irish market. A lot of the overseas loans had property which was going up in value, as was proven by the case of the two London properties, where they multiplied quickly and became very profitable. One part of the portfolio was in Ireland. Should a question not have arisen at the board where there was no independent valuation and where one outfit,...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Is there no record, documentation or minutes of that exchange of information with Avestus regarding the sum?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Mr. Williams is talking about due diligence and proper procedures. We are talking about multimillion euro deals and the public, which took a big hit with regard to these loans and what happened with the banks at the time. Mr. Williams says that due diligence was carried out in respect of this multimillion euro deal, but the fact is that there are no minutes and there was no written record...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: By implication, Mr. Williams is saying it should not have happened then.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Regarding the non-competitive nature of the valuation, Mr. Williams said that Avestus was only given exclusivity a long way into the process. The valuation used by NAMA was a 2009 valuation. Part of the portfolio related to Irish properties which we would all accept would have dropped from 2009 to 2011. Those of us who were around at the time would have seen that happen. The other part of...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Will Mr. McDonagh repeat that?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Mr. McDonagh argued in his opening statement and in previous documentation we received that it was the best gain in the circumstances for NAMA and the State. How can he argue that if there was a total absence of any other valuation or independent valuation? Does he not see that there is a defect in that?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: On the question of the individual who was part of Avestus and was subsequently a principal in Clairvue, could that individual also have been part of the Quinlan partnership?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Could any major NAMA debtor or someone involved in setting up Avestus have in any way gained from Project Nantes?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: Or any NAMA debtor involved in establishing Avestus. Is Mr. McDonagh confident that no person would have gained from the sale of Project Nantes?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: I understand that NAMA has about €1.2 billion to €1.3 billion left in assets. Tomorrow is the first day of the future. Can Mr. McDonagh assure the committee and public here today that, when disposing and making use of those assets, the taxpayer and the State will receive the maximum benefit?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: We have eight minutes left. I will allow a question from each of the members.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: We need to move on.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Brian Stanley: We are finished taking evidence. I thank our witnesses. It is always good to have the cathaoirleach of the board and Mr. McDonagh and his colleagues here. Thank you for the information provided at today's meeting. I also thank the Comptroller and Auditor General and his staff and the Oireachtas liaison person for attending and assisting the committee in preparation for today's meeting....

Written Answers — Department of Housing, Planning, and Local Government: Housing Policy (6 Oct 2020)

Brian Stanley: 69. To ask the Minister for Housing, Planning, and Local Government his views on the need for cost-rental housing provision in regional towns to accommodate those unable to secure a mortgage from a bank or lending facility. [28356/20]

Written Answers — Department of Housing, Planning, and Local Government: Housing Policy (6 Oct 2020)

Brian Stanley: 91. To ask the Minister for Housing, Planning, and Local Government if he will address the position of persons whose income is above the threshold for social housing but not sufficient to secure a mortgage from a bank or lending facility. [28357/20]