Results 1-20 of 109 for nama speaker:Marc MacSharry

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

Marc MacSharry: Let us move on. Let us say a developer connection in County Westmeath was selling ten houses and NAMA decided to sell those ten houses. Mr. Daly should correct me if I am wrong, but I have some knowledge of the process. Would it not have been the case that NAMA would ask the developer connection to identify three sales agents to get three sales proposals and valuations from those sales...

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

Marc MacSharry: I am sure NAMA has received countless telephone call over the years from individuals throughout the country asking whether NAMA is selling a house at number 10 on the high street in the town. Did NAMA ever say to such a person that the offer was fair enough?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Marc MacSharry: They're better. Okay. When NAMA acquired loan portfolios from AIB, NAMA imposed a haircut of 40% of the nominal loan ... on the values of the assets at the particular time. Were you satisfied with the valuation methodology used by NAMA in assessing the value of AIB land and development loan book and the potential impact on subsequent provisioning?

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

Marc MacSharry: NAMA is governed under legislation that is relevant to the State and the people. I like where NAMA is coming from politically on this issue, but, unfortunately, we are dealing with a commercial mandate. It is about the bottom dollar. It is not about those on the NAMA board asking how the people in County Down are going to wear a given transaction.

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)

Marc MacSharry: Going back to the beginning of NAMA and its operations, Mr. McGuinness would have been aware that it had connections and properties in the North. Was there a view in the Executive that the approach taken by NAMA in the South, as it was developing in carrying out its work under the NAMA Acts, could be detrimental to the economy in Northern Ireland?

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

Marc MacSharry: NAMA would have had a stock valuation, as with the assets in terms of Project Eagle. Mr. McDonagh said it had valuations at the end of 2013. If an individual comes in and NAMA is happy with the price quoted, NAMA would get an independent evaluation at that stage to verify that it was getting value for money. That is what Mr. McDonagh is saying.

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

Marc MacSharry: I understand that. In that example there were ten houses in Westmeath. I imagine there are umpteen examples of this in the NAMA portfolio. Why would that demand such a thorough bespoke process? Let us suppose the average price of a house was €150,000 and, therefore, for ten, the price would be €1.5 million. Why would that demand such a level of scrutiny and due diligence in...

Seanad: National Asset Management Agency Bill 2009: Report and Final Stages (11 Nov 2009)

Marc MacSharry: ...night. I am against both of these amendments. In respect of amendment No. 8, the local authorities will be first in the queue for any housing around the country. This amendment would undermine NAMA's ability to give the ultimate social dividend, to get the country moving again in order that we can have resources for sports capital or youth café programmes and the kind of infrastructure...

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

Marc MacSharry: In terms of the process, NAMA would request three. Is that not correct? Those three proposals would come in. NAMA's internal expertise would decide that proposal A was best and to run with that. Then, NAMA would set another price, which would not necessarily be the price on that, it could be higher or lower in terms of the minimum value. Is that not the case? Then, the process would...

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)

Marc MacSharry: It emanated from the Northern Ireland authorities. Yesterday a witness told us that it had ended up with NAMA within three days of a three-way conversation that had included the Minister down here. I am trying to establish whether the people in NAMA knew about it at the time. They have said they did not. I want to take advantage of the fact that we have certain expertise before us and...

Public Accounts Committee: Business of Committee (20 Jun 2019)

Marc MacSharry: I have a few comments. When the NAMA Bill was going through the Houses, I was in the Senate and said that this is all new territory and I would not be surprised if, as things evolved, there needed to be a NAMA No. 2 or No. 3 Bill. There never was. Perhaps it is my conspiratorial mind, but there is form here. We are having this exact discussion on the oversight of the IBRC liquidation....

Committee of Inquiry into the Banking Crisis: Context Phase (4 Mar 2015)

Marc MacSharry: In terms of his testimony today, Dr. Bacon has clearly indicated his belief in the correct nature of the establishment of NAMA. He suggested that short-term debt recovery versus the realisation of the long-term value to the taxpayer may be debated. Is he of the view that if more capital had been available to NAMA in respect of work-outs rather than disposals, it could have given rise to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: When one has a commercial relationship with NAMA, or they're with NAMA, are they prohibited from buying or selling property in Ireland?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Are you aware - I'm not talking about your own scenario - but would you be aware of any developers who, in co-operating with NAMA ... who are presiding over NAMA disposals which they were involved in, are retaining portions of that property or side deals or kickbacks for themselves?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Marc MacSharry: In your assessment, did NAMA save your business, or not? And are there features of NAMA's engagement with your company that you regard as particularly helpful and any as particularly unhelpful?

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

Marc MacSharry: Then Mr. McDonagh should point to the two other companies, other than Lazard. Before NAMA designed the sales process, other than the diplomatic wishes which we took cognisance of, who did NAMA consult externally on the best way to do this process, other than the two Governments?

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

Marc MacSharry: When NAMA would do that, would the practice of NAMA be to get an independent valuation before letting it off?

Public Accounts Committee: Business of Committee (20 Oct 2016)

Marc MacSharry: If NAMA has information, the ownership of that information and professional advice rests with it and not Lazard. We are only considering it in the context of it being in the ownership of NAMA. We are not judging Lazard on its advice.

Seanad: National Asset Management Agency: Statements (26 May 2009)

Marc MacSharry: ...been made for a debate on the issue and we are all happy with this opportunity to make a number of interim points. As I cautioned in response to a number of contributions on the Order of Business, NAMA is a work in progress and we will need further debates as more of the details become clear. Due to other commitments, Senator Twomey was not in a position to attend this morning's meeting...

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)

Marc MacSharry: I am conscious that Ms Finan left in December. Was it ever suggested during a discussion that a memorandum of understanding that could be included in any sale negotiations by NAMA might be drawn up to cater for the worries of the Northern Ireland side, or those of the Southern side in the light of NAMA's responsibilities to the taxpayer?