Results 581-600 of 2,211 for speaker:Paul Connaughton
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Does Mr. McDonagh think there is a property bubble forming at present?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Does NAMA have an opinion on the Central Bank's new regulations on mortgage lending?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Therefore, Mr. McDonagh thinks the figure of 20% is too high.
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: I have a final question. Regarding the statement in the presentation that NAMA is not a developer and has no ambitions in this regard, why is there a need to state that so clearly?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Okay. Thank you, Chairman.
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: I welcome the deputation. I have a final comment on mediation. I realise Mr. McDonagh said that only a small number go to mediation, perhaps 10%. Of that 10%, how many are actually successful at the end of the process?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Does NAMA ever come back for a second go at mediation?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: In his opening statement Mr. McDonagh set out his contention that NAMA has been far more patient in its dealings with debtors that many corresponding private sector commercial banks or private equity entities in similar circumstances. How did Mr. McDonagh work that out?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: I am trying to work out how what experience Mr. McDonagh has, whether personal or otherwise in respect of dealing with banks. Mr. McDonagh maintains that NAMA is doing it better than the way they do it.
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Performance measures were mentioned at the last meeting. Mr. McDonagh referred to a board meeting last week to examine some of those measures. Can Mr. McDonagh give an indication of what some of those measures were?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: We are five years into NAMA at this stage. Mr. McDonagh's belief is that because the property market has picked up NAMA is beginning to realise more money and it is coming in now. I imagine the intention is that NAMA would be wound up far quicker. Is there any chance that by the time this gets implemented NAMA will be gone anyway?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: It will cover it right through the whole process. Is that correct?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Deputy McDonald mentioned one or two individual projects. I accept that NAMA cannot foresee what the market will do six months or 18 months down the line but when NAMA makes a decision to sell does the agency take advice from others outside in respect of those properties?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Then it is signed off by the board. Is that correct?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Are there ever concerns that NAMA would sell off some property? Is it possible for the debtors to complain that NAMA did not take advice on board? For example, they may have expressed the view that if NAMA held onto an asset for 12 months longer then it would have achieved far more for the taxpayer?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Does it happen often?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Does a debtor ever come back and say that he tried to tell NAMA that if it simply held on to an asset for 12 months-----
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: I realise the end result is to return as much money as possible to the taxpayer, but I imagine Mr. McDonagh is well aware of certain cases. Deputy McDonald mentioned a case earlier in respect of which we could have got more back for the taxpayer if we were somewhat more patient or if we had listened to more internal advice.
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Where does Mr. McDonagh envisage the property market going in the next 12 months?
- Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)
Paul Connaughton: Yes.