Results 61-80 of 194 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 (Resumed) (16 Nov 2016)

Marc MacSharry: ...purchase by Cerberus and how they have worked out with those connections and, ultimately, the anecdotal evidence, on which I stand to be corrected, that the 50 to 55 connections that were within NAMA and that are Northern Ireland-based have exited that process and done their particular deals, was correct. Is he of the view that said outcome benefits the economy in the North the best,...

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: Was the memorandum of understanding sent to NAMA in advance of the sale?

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: ...have a personal concern and which would be contrary to European law on tenders. There are other issues with it. To the best of Mr. McGuinness's knowledge, would that information have been with NAMA and its officials within three days of the conference call? Is that the case?

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: I appreciate that Mr. McGuinness is saying that he did not approve it, and we will take that as said for now, but is his view and his information that this document was in the hands of NAMA within three days of the conference call between him, the Minister, Deputy Noonan, and the then First Minister, Mr. Robinson. Is that the case?

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)

Marc MacSharry: ...be repetitive other than to say that I very much agree with Deputy Cullinane. To me, this letter is potentially explosive. One aspect that jumps out at me is that in a sales process of 2013-2014, NAMA was providing valuations for 2009. We had certain discussions with Ministers and others about the fact that valuations were not sought. From my own knowledge, having been an auctioneer,...

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

Marc MacSharry: Just to comment on it, this is tactics. Lazard is a professional adviser to NAMA. The latter owns the information. It solicited it, asked questions and got answers. We have to consider those answers and questions as part of our report. My answer is "No".

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.

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)

Marc MacSharry: ...Comptroller and Auditor General she raised a concern about the 5% discount and the fact the Office of the Comptroller and Auditor General had no expertise in this area. Were representatives from NAMA at that meeting?

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)

Marc MacSharry: Is it safe to assume that the position of the Department of Finance would mirror that of NAMA rather than that of the Comptroller and Auditor General?

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)

Marc MacSharry: I think it is. I feel I established from the questions I put to NAMA that in terms of the process it followed in preparation for this sale, it put its agent in place, having designed the process, and prescribed how the process would proceed. We also established last week the typical process that NAMA would follow when it was selling property. I used an example of selling ten houses in...

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)

Marc MacSharry: ...that if we were selling two or three bed semi-detached houses in Limerick for a small developer in the Minister's constituency for €200,000, three valuations would have to be provided to go into NAMA. NAMA would assess the valuations and pick the one it thought best and typically would add a sweetener. That is how it would determine the sale price. Would it be a cause of concern...

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)

Marc MacSharry: ...Office in view of the fact that the market is going to pay what it is going to pay. Why bother trying to value anything? Is the Minister content with and confident in the independence of the NAMA board?

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)

Marc MacSharry: Bearing in mind section 2 of the Act on the interests of taxpayers, does the Minister not feel that they, as the ultimate shareholders in NAMA, are entitled to have maximum representation on the board as it undertakes works such as the disposal of €1.6 billion worth of assets?

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)

Marc MacSharry: Is it okay that NAMA has operated below the number designated by the Act?

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)

Marc MacSharry: ...precise, very specific and to the point. Last week, he made a peculiar statement and sounded much more diplomatic and political than we have ever heard from him before. He said the board of NAMA decided to listen to the wishes of both Governments. What were the wishes of the Irish Government, as put to Frank Daly, to which he referred last week?

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)

Marc MacSharry: Indeed. Would it concern the Minister that NAMA was selective in the information it provided to Lazard in seeking the expert advice to which the Minister referred in terms of the fact that it did not inform Lazard of a fixer's fee intended for Mr. Cushnahan.

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)

Marc MacSharry: Would NAMA have sought letters of comfort?

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)

Marc MacSharry: Did NAMA provide the Department with any proof of competitive tension in the sales process after PIMCO's exit from the process?

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)

Marc MacSharry: ...to the wishes of both Governments and the fact that there was some input from there to hasten the process, which may have undermined the potential for the taxpayer, the ultimate shareholder in NAMA, to maximise the return.

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: ...the Chairman believes it is appropriate to ask for that and if the Comptroller and Auditor General believes it can be done, albeit in time, it could be useful. Also, in terms of the responses from NAMA to the Comptroller and Auditor General, could any management papers be made available to us?