Results 21-40 of 83 for nama speaker:Bobby Aylward

Public Accounts Committee: 2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 13 - Development of ICT Systems by the Department of Justice and Equality
Vote 24: Justice and Equality (26 Apr 2018)

Bobby Aylward: This matter is getting worse. A minute ago PPPs were mentioned and now we've heard about NAMA.

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

Bobby Aylward: ...fact that he did meet Cerberus. It was in the notes of the meeting that Project Eagle had been discussed and then stopped. It was also in the notes that within hours Cerberus met the executive of NAMA to discuss it also. Is it not insider trading that Cerberus which was successful met the Minister 48 hours before the deal was clinched? The Minister might have met Cerberus for a...

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)

Bobby Aylward: Did NAMA get value for money at £1.3 million? I specifically refer to the 10% discount that was given and the 5.5% that was the norm on other sales up until then. Could the witnesses elaborate on the use of a 10% discount rather than a 5.5% one?

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)

Bobby Aylward: ...individually in the long term, rather than by a loan book sale? Was the option assessed properly at that stage? Could they have been kept or retained? Witnesses have implied several times that NAMA would have done better if it had held on until 2015, 2016 or 2018. Furthermore, even with Brexit coming down the road, if NAMA had held onto the portfolios and sold them individually or...

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)

Bobby Aylward: Did NAMA assess one against the other?

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)

Bobby Aylward: That was putting a gun to the head of those in NAMA. Is that not the case?

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)

Bobby Aylward: We heard today about a directive that there should be no syndicated or financial bids, in other words, the tender was confined again. Why was this directive given 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)

Bobby Aylward: Was Mr. Neporent worried about it because of the political situation and the relationship with NAMA? Did he understand all that when he made the offer? Was he worried about rolling out these assets and how they would work out in the future?

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)

Bobby Aylward: Most NAMA representatives said the same. As has been said already, £15 million is a lot of money. Mr. Neporent said, in hindsight, if he had the choice again he might not give them that much money. In hindsight, if he were back again, and if he were paying by the hour, what value would he put on the information they gave him? I know it is hypothetical.

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)

Bobby Aylward: When Cerberus came in to bid, in February, was Mr. Neporent aware that PIMCO had originally offered £1.3 billion for the portfolio, that it had wanted to have a closed arrangement with NAMA, and that NAMA refused it and wanted to put it on the open market or on a closed market with named companies? Was he aware that the £1.3 billion was the original offer from PIMCO and was that...

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)

Bobby Aylward: Cerberus bought the loan book. We keep asking NAMA what would have happened had it rolled out an asset-by-asset sale over a longer period, and sold them individually or in small groups, rather than a loan book sale. Would Cerberus have been interested in buying the assets rolled out over time rather than buying the loan book in one go?

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)

Bobby Aylward: NAMA made a big play about the political situation in Northern Ireland and also spoke about the relationship with its clients and creditors. It spoke about Brexit. We kept asking NAMA about its long-term strategy, if it sold off assets slowly up to 2020, bit by bit, rather than this quick-fire or loan sale that happened in one go. We never got a very good answer to it. What is Mr....

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)

Bobby Aylward: I welcome the witnesses to this meeting today. This committee is having an ongoing debate every week about NAMA and the sale of the Project Eagle portfolio. I will begin with an observation. I have been very frustrated at the lack of clarity and detail in terms of minutes of meetings and paper trail deficiencies. The quality of record keeping and documentation in general leaves a lot to...

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)

Bobby Aylward: PIMCO sought a closed deal. That is the way it approached NAMA first but NAMA, in its wisdom, wanted an open-market deal. How did PIMCO respond? Did NAMA explain matters to PIMCO even though the latter had sought a closed deal with only itself involved and no-one else?

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)

Bobby Aylward: Did NAMA ask PIMCO had it a relationship with Brown Rudnick at that stage? Who made the initial approach and when?

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)

Bobby Aylward: Did Brown Rudnick make the first approach to NAMA?

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)

Bobby Aylward: If NAMA's policy was to have an open-market loan sale, why did asset recovery propose to give PIMCO a head start by granting it access to information in order to carry out due diligence? This is an important aspect.

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)

Bobby Aylward: Why did asset recovery recommend a loan sale for NAMA 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) (25 Oct 2016)

Bobby Aylward: What were the other options available? What about selling large assets separately, as happened with Project Arrow? NAMA had set a precedent with Project Arrow. Why not put forward such consideration at this stage? Did the board ask questions about the matter?

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)

Bobby Aylward: Does Mr. Collison mean NAMA was pressurised or that it deemed it better to sell off the assets as quickly as possible?