Results 1-20 of 55 for nama speaker:Josepha Madigan

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)

Josepha Madigan: I have a difficulty - perhaps Mr. Collison will clarify - with NAMA's assessment of itself. We have all heard the phrase, "self praise is no praise". In terms of the credit grading, for example, Mr. Collison spoke about 76% being applied to Project Eagle, as the lower debtor credit rating and 36% for the rest of the NAMA portfolio. Is NAMA itself reaching those conclusions? Who is...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (6 Oct 2016)

Josepha Madigan: ...a Minister has appeared before the Committee of Public Accounts. Deputy Brendan Howlin, I believe, was the last Minister to do so. It is evident from the Minister's clarifications today that NAMA is an independent commercial entity, and it is very important that the committee understand that. The import of the NAMA Act is very clear in that regard, and I very much welcome the...

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)

Josepha Madigan: ...referred to Mr. Patrick Long from Lazard earlier. I know Mr. Daly referred to this matter earlier but I wish to go into it a little further. Mr. Long stated that he would not comment on the NAMA sales process because, he said, NAMA is a sophisticated organisation and it was not Lazard's place to advise on the sales process. That does not tie with what Mr. Daly stated on page 6 of his...

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)

Josepha Madigan: Did NAMA, or any of the NAMA team who are present today, ever have previous dealings with Cerberus or with Mr. Mark Neporent?

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)

Josepha Madigan: "NAMA internal Contemporaneous Notes of Conference Calls between PIMCO and 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)

Josepha Madigan: No, I am referring to the NAMA internal contemporaneous notes of conference calls between PIMCO and NAMA. I have record 1 and record 2, which are identical, but they are of telephone conversations that took place on different dates and at different times.

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)

Josepha Madigan: ...in a certain way. That is my reading of it. There were a lot of references to due diligence and best practice in the opening statement but this is the first time we have heard talk from NAMA of those issues. There is a concerted effort on the part of NAMA to provide clarification around the valuations, the sales process, the governance and all of the issues that we have discussed to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Josepha Madigan: I understand Deputy Cassells' point but we have to allow NAMA the opportunity to respond to this as well because we are not a court. I accept the chief executive officer put his name to this. NAMA has also given its submissions here. We need to be careful that we do not have people proven guilty until it is done.

Public Accounts Committee: Policy on the Retention of Contemporaneous Notes in the Preparation of Board Minutes: National Asset Management Agency (14 Dec 2016)

Josepha Madigan: The reason this is important is that we need to eradicate any hint of untoward happenings. If NAMA were to show the rationale, it would demonstrate that. That is really what this is about because it begs a question that is left unanswered. That is why I spoke earlier about extenuating circumstances when there is so much money at stake. Mr. Daly stated NAMA would address the matter in...

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)

Josepha Madigan: It is interesting that there was a link between NAMA and Cerberus at some point, even if it was a tenuous link. I would also like to ask about the Northern Ireland Executive. Martin McGuinness's evidence before this committee was completely contradicted by Peter Robinson. Mr. McGuinness told us there were active efforts to exclude him. In other words, Mr. Robinson was trying to exclude...

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)

Josepha Madigan: I have a more pertinent question. I understand that in other NAMA loan sales, the loan sale advisers valued both the loan collateral and the loan portfolio for disposal in a single lot. I understand that in the case of another NAMA multi-debtor, where there was a multi-property sale, the loan sale advisers advised on alternative loan sale strategies and provided a commentary on market...

Report of the Committee of Public Accounts re National Asset Management Agency’s sale of Project Eagle: Motion (29 Mar 2017)

Josepha Madigan: I will be very brief. The Minister of State, Deputy Eoghan Murphy referred to the National Asset Management Agency Act. NAMA was set up by the Fianna Fáil-led government in 2009 and was part of the troika bailout. Deputy Burke alluded to the word "expeditious" which was mentioned on numerous occasions in the Act. It is my personal view that haste was put before prudence. This...

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)

Josepha Madigan: Some of the characters are more desirable than others and some are quite nefarious, with a plot line changing as it goes along. I am not sitting here in judgement of Mr. Daly or NAMA, for that matter. We have a report to produce and we are trying to establish the truth more than anything else. The witness can understand, from our perspective, when we are hearing different narratives and...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Josepha Madigan: ...Comptroller and Auditor General's report, there is a very revealing paragraph on Lazard's position in these proceedings. Paragraph 4.44 states:In response to a series of questions put to them by NAMA, Lazard stated to NAMA on 31 March 2016 that - Apart from the nine global investors who participated in the process, there is no evidence that any other investor existed at the time [...]...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Josepha Madigan: ...at the expense of the rest of the rationale for the Act. Ms Nolan mentioned the word "expeditiously" on numerous occasions. She mentioned that in the report. Even though I have not put this to NAMA, I intend to do so. To be fair to it, in a sense it was straitjacketed because of the language used in the NAMA Act. Section 2 refers to being expeditious and, I think, efficient....

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (10 Nov 2016)

Josepha Madigan: We must be very careful. I am not taking sides at all here, but looking at it very objectively, NAMA has come before the committee and given evidence, and we have a letter from Tom Rice. He states he will not give evidence on very serious assertions he put in his letter. If he cannot make it to this committee room, somebody else should be in his stead because he has put his name to this...

Public Accounts Committee: Business of Committee (29 Sep 2016)

Josepha Madigan: Was NAMA offering this meeting to everybody or just to certain individuals?

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

Josepha Madigan: In those circumstances, Mr. McCarthy should be afforded the opportunity to respond to NAMA's-----

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

Josepha Madigan: Is it correct that the asset recovery section of NAMA agreed the valuations or approved the portfolio?

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

Josepha Madigan: I have only a few more questions. How does NAMA respond to interested parties regarding the lack of information and time to consume what is available in respect of the bidding process? Does Mr. Daly accept the resulting concerns about competitiveness?