Results 19,021-19,040 of 26,053 for speaker:Kieran O'Donnell
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: We cannot have double standards.
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: It is an annual matter. It is not taking from the great work that the various organisations do, but in terms of consistency this highlights that attention must be drawn to it on an annual basis.
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: By way of observation, there was something slightly curious about the fact that from 2007 on, the accounts for the harbours were qualified whereas in 2006 they were unqualified. I was wondering how we went from a situation where they were unqualified to being qualified the following year. At that stage, both were under the Department of Communications and Natural Resources. It is just an...
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: That is new information. We did not have that at the time they were here. Mr. McCarthy is saying that his audit qualification was based on the fact that it went from the Department of Communications and Natural Resources to the Department of Agriculture, Food and the Marine. Yet we were told on the day by the latter Department's officials that, in essence, the same people were on the...
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: So Mr. McCarthy had no issue when they were with the Department of Communications and Natural Resources, but he had an issue when they were with the Department of Agriculture, Food and the Marine?
- Public Accounts Committee: Business of Committee (23 Oct 2014)
Kieran O'Donnell: But Mr. McCarthy gave them an unqualified report?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: I welcome the fact that NAMA is taking on board the Comptroller and Auditor General’s recommendation on rate of return. What type of rate does it envisage taking on board from 2015?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Will normal commercial criteria apply?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Mr. McDonagh said that at the end of the second quarter NAMA sold debtor’s loans with a normal part debt value in excess of €12.5 billion and it recognised a loss of €227 million on the disposal of the loans. Is that €227 million on the value NAMA paid for the loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: It is not off the original book value. Would it be fair to say that NAMA’s model is that profits come from interest on loans which in essence cover losses it makes on the disposal of loans and assets? Is that a reasonable summary?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Losses of €140 million.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: To date, globally, has NAMA made a profit or loss on disposal of loans and does it have a break-down of profit and loss on disposal of assets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: Is that on disposal of loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: What about disposal of assets?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: If NAMA was going to make a loss of €140 million on disposal of a portfolio of assets in the North in the second quarter, why, when the market is rising, would it not have held off on selling those loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: How much did NAMA purchase that loan for and what did it sell for to arrive at the loss of €140 million?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: In respect of staff on garden leave who have to refrain from taking up a post in that area for six months, in the current market can NAMA retain staff and is six months too short a period? The public perception is that it is too short.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: With due respect, working for NAMA is not like working for any other property business. It is probably still one of the biggest in the world. The access it gets to databases and information is unique. Mr. McDonagh spoke about a relatively unique set of circumstances for investment return and I take that on board but think we should have a benchmark. Equally, when staff work for NAMA they...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: A question was put on NAMA's dealings with developers within NAMA. How many developers have exited NAMA at this stage? Have developers purchased assets, including either their own loans or unrelated loans, from within NAMA? A sum of €10 million has been paid out by NAMA in salaries to developers, three of whom are on €200,000, 13 of whom are on between €150,000 and...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Operations and Functions: National Asset Management Agency (22 Oct 2014)
Kieran O'Donnell: There are no discounts.