Results 1-20 of 26 for nama speaker:Matt Carthy

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: It is important that, for our own consideration, we would request of NAMA its response to the charge that has been made. We know NAMA has been entrusted with a huge level of portfolios and loans that can be either a force for good or bad in terms of how they are utilised and the circumstances involved. A trade union has made very serious assertions that the actions of NAMA have resulted in...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: Avestus is then retained by NAMA to manage Quinlan Private loans but NAMA did not designate it as a NAMA debtor.

Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)

Matt Carthy: I take this opportunity to return to work this committee did following our engagement with NAMA with regard to the Project Nantes loan portfolio, which resulted, according to our findings, in a loss of approximately €10 million to the taxpayer. Following our previous engagements, the NAMA board, essentially, refused to accept the figures or engage with us, and put all this down to a...

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: I am sure there are companies involved that will quite happily pass the buck to NAMA and say it is the cause. It is not to say one way or another that this is the fault of NAMA or the company. However, it would be appropriate for NAMA to share with us its initial response and we can then make a determination as to whether there is a role for this committee to examine it further.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: ...did not know that this portfolio was even on the market. Thus there was a situation where a company that had an interest in purchasing this portfolio had, as a director, someone who was aware that NAMA had a target price to achieve and that company, very conveniently, valued that portfolio at almost the exact amount NAMA needed to secure.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: I want to return to this notion that the director of Avestus was handling the sale on behalf of NAMA or was, at least, advising it and was also a director of Clairvue which was the ultimate purchaser. There are two subsections to my question. The reason we know or became aware of this was that a former Deputy, Mr. Mick Wallace, informed the House of that information. Was NAMA aware of that...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: I thank Mr. McDonagh and our other guests from NAMA. I am new to this committee and it is the first time I have dealt with a file of this nature. As such I would like to get "Yes" or "No" answers to my questions for my understanding of the situation with Project Nantes. The witnesses may tell me if I am wrong on any account. The first premise is essentially that NAMA is suggesting the...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: ...of this portfolio, the Comptroller and Auditor General has suggested that there was an undervaluation to the tune of approximately €29 million. Then we have a situation where, on the valuation NAMA had placed on the file and very conveniently with the Project Nantes portfolio, Clairvue offers, through a non-competitive process, essentially the gap NAMA needed to fill. A gap that...

Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)

Matt Carthy: I thank Mr. McDonagh for that. The committee has always acknowledged that the National Asset Management Agency Act was not necessarily breached, but we had indicated we believe NAMA should have done more to investigate the connections between companies managing assets on its behalf and the companies seeking to purchase NAMA loan portfolios. Mr. McDonagh will recall that was a matter of...

Public Accounts Committee: NAMA Financial Statement 2020 and Special Report 111 of the Comptroller and Auditor General (30 Sep 2021)

Matt Carthy: Considering the crisis we are in now, it appears that such a decision warrants further investigation. Of the 7,000 properties identified by NAMA - and some might argue that this figure is too low - it seems 4,500 were not considered in any great way. It was indicated that 2,629 properties were delivered for social units and that a little under 1,400 were social houses to begin with,...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: ...which is that he accepts and contends that this was actually a success for the agencies and for the Irish taxpayer. Whatever about laws being broken, bad practices were clearly employed. My fear is that NAMA is not as angry as hell about the fact that it has been played. A guy who was operating for a company that it employed was also a director of a company for somebody who is...

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: NAMA did not put any arrangements with Avestus in writing.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: Then Avestus is privy to the target price that NAMA set out.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: Am I correct in saying that throughout this process NAMA was unaware that a director in Avestus was also a director in Clairvue?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: -----the company that was managing on behalf of NAMA but also in the company that eventually purchased the-----

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: Would it have been better if somebody in NAMA had done a little bit of research to find out whether somebody was playing on both football teams at once?

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: He had the pertinent information from NAMA.

Public Accounts Committee: Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019 (8 Oct 2020)

Matt Carthy: Neither Mr. McDonagh nor anyone else in NAMA knew about this.

Public Accounts Committee: Business of Committee (18 Nov 2020)

Matt Carthy: I propose that we write to NAMA asking it for its response to BATU in this regard.

Public Accounts Committee: Business of Committee (29 Jan 2021)

Matt Carthy: Is the Chairman saying that this correspondence has already been forwarded to NAMA for response by the previous committee?