Results 1-20 of 118 for nama speaker:Mary Lou McDonald

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: Mr. Daly is correct, so I stand corrected on that. Mr. Daly has consistently said that. Nonetheless, NAMA was well aware of the particular dynamic. When all of these issues are bundled together, the implausibility is astonishing. The PIMCO scenario arose, NAMA knew that Brown Rudnick was the mover and shaker in shaping the deal, and NAMA also knew that Mr. Cushnahan had a relationship...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (18 Oct 2016)

Mary Lou McDonald: The notes I have quoted from are summaries of the communications, mainly conference calls, between PIMCO and NAMA in March 2014 regarding PIMCO's withdrawal from the Project Eagle loan sales process and are based on meetings with NAMA officials and the examination team reviewing a minute of a conference call prepared by NAMA's senior divisional manager, legal and reviewed by NAMA's head of...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: Does NAMA keep an eye on properties that have passed through the hands of the agency, that have moved from NAMA debtors to others or for which NAMA has had a responsibility? Does NAMA monitor their subsequent movements?

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

Mary Lou McDonald: No. He interrogates the process, then arrives at a conclusion, based on NAMA's own standards, practices and standards, which NAMA itself had set, and then benchmarks the outcome NAMA achieved. It is not against some never-never land scenario but against NAMA's own policies, standards and benchmarks.

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

Mary Lou McDonald: It also criticised Mr. McCarthy for not making comparisons with other bodies and it referred particularly to the IBRC loan portfolios. I think it said he was comparing NAMA with NAMA. I assume Mr. McCarthy’s position is that the audit process is a case of comparing NAMA with NAMA. Can he comment briefly on that, particularly the IBRC comparison?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Mary Lou McDonald: NAMA relies on Lazard. NAMA has cited its advisers repeatedly as guarantors as to the competitive tension within the process, having achieved best value in respect of the taxpayer and so on. This is very much the outfit that afforded NAMA the catch-all comfort blanket that all was well. Yet, it turns out, and we knew this already, that it was not informed of this carry on around fixer fees...

Leaders' Questions (14 Jul 2015)

Mary Lou McDonald: For the purposes of clarity, there are, of course, two jurisdictions currently on this island but there is one NAMA. The person who is answerable in the final instance for the behaviour of that State agency is not the Comptroller and Auditor General but, in fact, the Minister for Finance. Second, the Comptroller and Auditor General does not have staff or personnel on the board of NAMA, as...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Mary Lou McDonald: Board minutes of the meeting on 11 March, two days previously, recorded the following sentiment:PIMCO, ostensibly in the spirit of transparency, wish to advise NAMA about the success fee arrangement and sought NAMA's agreement that it was appropriate. The word "ostensibly" is used in minutes of the board meeting, which it seems is questioning the motivation of PIMCO which, it should be borne...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Mary Lou McDonald: As long as issues of that nature are not up for scrutiny by people such as us, then there is an obvious and fundamental issue of accountability. It is NAMA's bread and butter - what it does on a day-to-day basis - and we will have to agree to differ on that point. The agency has a very high level of staff turnover. At a previous meeting, we discussed what constitutes an appropriate...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: I am instancing this transaction. We have discussed previously the fact that NAMA is not an organisation or body that is amenable to close scrutiny by parliamentarians like us because of commercial sensitivities and the commercial nature of NAMA's task. That is what we are told and that is the position set out by NAMA. I am citing this instance and raising a concern around it. Perhaps...

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

Mary Lou McDonald: .... It is not their first appearance before this committee and I have a sense that it will not be their last visit. I am struck, in the first instance, at the very trenchant criticism levelled by NAMA at the Comptroller and Auditor General. It is in marked contrast to the approach taken by that office at our hearing this morning. If I heard Mr. McDonagh correctly, he fell just slightly...

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: ...is but I would suggest a more robust mechanism. However, that is probably a matter for Government. Deputy Costello raised the issue of the docklands, as perhaps did others. This comes down to NAMA as an entity, the scale of it and obviously the scale of the plans conceived for the docklands and the reality that, in its former incarnation, the development of that part of town fell short...

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Mary Lou McDonald: That is very informative. However, I must ask the question again. What, if any, contacts have there been between former employees and NAMA or NAMA developers with regard to the acquisition of NAMA properties?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Mary Lou McDonald: There is more at play here than simply the credibility and standing of NAMA. Mr. Daly's language is strong. He stated NAMA will "not be intimidated". He feels that this is an attempt at some level to intimidate NAMA or to intimidate him personally. Which is it?

Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013)

Mary Lou McDonald: .... An accusation has been clarified here in respect of the valuation of properties, particularly with the input from the Comptroller and Auditor General. I do not understand why. To undermine NAMA's credibility and place a question mark over NAMA, that is self-evident. However, to intimidate NAMA, that is of a different order.

Public Accounts Committee: National Asset Management Agency Financial Statements 2013 (18 Dec 2014)

Mary Lou McDonald: ...his paper, it would be wise to analyse and track even a sample of those properties systematically as a reference point for performance and to make decisions on the quality of the judgment at which NAMA arrives. Mr. McDonagh laid heavy emphasis in his presentation on NAMA's relationship and dealings with debtors. His first assertion is that in the past NAMA had to defend itself against...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2014 (Resumed) (1 Oct 2015)

Mary Lou McDonald: Fáilte romhaibh uilig. Mr. Daly knows that we have in attendance members of the Northern finance committee. We heard a statement from their cathaoirleach. An issue that arose was NAMA's continuing refusal to attend that committee. Will NAMA reconsider its position? I insist that it is essential that NAMA make itself available to the committee. What is Mr. Daly's response?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (25 Oct 2016)

Mary Lou McDonald: I am aware that even when NAMA is bundling assets it is, in the final analysis, dealing with loans. That is the issue here. On 10 October 2013, NAMA started its discussions with PIMCO. At this stage the board has been informed of the interest of PIMCO and so on. NAMA meets with it. The head and deputy head of asset recovery, who is Mr. Collison-----

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

Mary Lou McDonald: This is what NAMA told the witness. Okay. The witness made extensive reference to the lack of property evaluations and he made a number of observations in terms of the minimum pricing for the portfolio. He notes that this minimum price of £1.3 billion was recommended to the board by the NAMA executive. What does the witness mean or to whom does he refer when he refers to the NAMA...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Mary Lou McDonald: I am not saying that NAMA knew in April 2013 what Mr. Cushnahan was up to. I am saying that in March 2014 NAMA was made aware retrospectively of what Mr. Cushnahan had been involved in. One might ask why does that matter. It matters a great deal because it means that Mr. Daly's initial defence of why NAMA was inert and did not act in respect of Mr. Cushnahan saying, "Sure, he was gone...