Results 1-20 of 43 for nama speaker:Peter Burke

Written Answers — Department of Housing, Planning, and Local Government: State Bodies (30 Nov 2021)

Peter Burke: ...required in 2024 to assist in funding the following: - Pipeline of housing including on additional State lands; - Accelerated housing through Project Tosaigh; and - the National Asset Residential Property Services (NARPS) D.A.C from NAMA. The LDA currently employs 51 staff members and continues to actively recruit staff, with a further 2 employees expected to join by the end of 2021. In...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018)

Peter Burke: ...hanging over our Exchequer, which has now been repaid. I also refer to the repayment date of March 2020. Could Mr. McDonagh give me a brief overview of the geographical location of the overseas assets NAMA holds now, and the strategy employed in disposing of them?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018)

Peter Burke: I thank Mr. McDonagh. It obviously shows a huge amount of progress on our overseas property and loan portfolio. Obviously, when an organisation such as NAMA is acquiring in excess of 12,000 loans, there will always be public commentary and debate on aspects that people deem controversial. It was very clear from the NAMA Act, however, that assets were to be disposed of judiciously and that...

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018)

Peter Burke: Mr. McDonagh refers to "extensive and patient engagement" in the context of local authorities and getting sites ready. The take-up by local authorities of NAMA properties for social housing was only 40%. In terms of the jigsaw that is the housing crisis, what is Mr. McDonagh's view of how the local authorities are dealing with the issue in the context of NAMA's engagement with them?

Public Accounts Committee: National Asset Management Agency: Financial Statements 2016 and 2017
Comptroller and Auditor General Special Report No. 102: National Asset Management Agency Second Progress Report (20 Sep 2018)

Peter Burke: I am never one to challenge ambition but does Mr. McDonagh believe the 2017 target of 18,000 units is realistic in the context of NAMA's termination cycle?

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

Peter Burke: ...2009 the word "expeditious" is mentioned twice. We must be very fair. The NTMA is now issuing ten-year bonds at 0.33% and treasury notes at negative yields. They peaked at 14% in July 2011 and NAMA played its part in getting this debt off the State balance sheet. My final point is on the terms of the commission of investigation-----

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

Peter Burke: ...days of evidence. Any State body needs to be able to demonstrate fully that it got value for money for the State and, unfortunately, due to inadequate record keeping, which has been accepted by NAMA, the Committee of Public Accounts had a limitation of scope in assessing this. Decisions were recorded but discussions were not. In a State agency where sensitive loan sales take place,...

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)

Peter Burke: ...data room was managed by the client which was a major organ of the Irish State in one respect and backed by the taxpayer. Second, a verbal briefing was given at an initial meeting between Lazard and NAMA of which we have no detailed record to revert to now to assess what conversations were held in terms of the objectives of the sale. We also know there was no advice in terms of strategy,...

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)

Peter Burke: So Lazard took NAMA's judgement and proceeded on the basis that it only wanted to sell the asset. Value was not a concern. It just wanted to get the asset sold.

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)

Peter Burke: I understand what Mr. Long is saying. He is saying that Lazard's job was to assist NAMA in achieving its objectives. What I do not understand is how he can put that as one with not questioning the process by which NAMA was constraining itself, which Mr. Long has already said was unusual in terms of the 50 sales in which Lazard has been involved.

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)

Peter Burke: I have three brief final points. In respect of 13 February when there was a loss of confidentiality, should Lazard not have considered amending the sales approach or advising NAMA to carry out a risk assessment at that point?

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)

Peter Burke: ...of bulking everything together, etc. - changed. Would it not have been prudent at that point to assess the situation? The information had changed and there had been a breach in something that NAMA held dear.

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)

Peter Burke: Lazard, as adviser, was a party to the initial meeting. We are trying to assess what NAMA and Mr. Long's company were thinking at the time. Lazard put together a document on foot of the conversations that were held but it would be good practice and ensure that all parties were safeguarded to have detailed and clear minutes of the meeting, given that it had such a high profile and involved...

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)

Peter Burke: When Blackstone, Starwood and Oaktree were admitted, were any advised by NAMA as potential clients or was it done through Lazard?

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)

Peter Burke: Were those three suggested by NAMA?

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)

Peter Burke: ...The witnesses stated there was not an option to work out the loans together with the supporting for the discount rate. This is where the issue is confused. All the back-up work done in respect of NAMA's formal strategy and the information in Appendix C, which was produced to the board on 12 December 2013, indicate that the work-out period was to 2020 and this is in line with NAMA's...

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)

Peter Burke: ...from the Minister for Finance in the Republic of Ireland, Deputy Noonan, of his intention to sell Project Eagle. Given that section 9 of the National Asset Management Agency Act 2009 provides that NAMA is totally independent of the Government, would Mr. McGuinness not agree that this statement was grossly misleading?

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)

Peter Burke: Would Mr. McGuinness not concur that, basically, the Minister has no jurisdiction over making an operational decision within NAMA?

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)

Peter Burke: ...and say "I am selling all of Project Eagle" because he does not have the authority or the jurisdiction to do that. It is very clearly laid out in the National Asset Management Agency Act 2009 that NAMA is totally independent in its performance. Therefore, the Minister could not execute that. It is not in his power to sell Project Eagle.

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)

Peter Burke: ...that a number of other meetings and engagements took place involving various combinations of the Minister, Deputy Noonan, Northern Democratic Unionist Party, DUP, Ministers and representatives of NAMA, Cerberus and PIMCO". Does he not think that line is grossly misleading in view of the fact that the Minister did not meet Cerberus or PIMCO?