Results 161-180 of 207 for nama speaker:Catherine Murphy

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: Would it have been identified that they were properties with a NAMA loan attached?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: ...end of the page it states:With regard to the proposed acquisition of the NI Debtors Portfolio, PIMCO confirmed the following:They have not completed any due diligence or engaged directly with any NAMA debtors in this regard; PIMCO’s analysis was conducted by way of reverse engineering NAMA’s Balance Sheet and cross-referencing the publicly available information on...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: I am looking at when the approach appears to have come almost packaged to NAMA via the two finance Ministers. It looks to me - if I am reading it correctly - as though there was a significant amount of information in advance of engagement with NAMA in putting together this portfolio. Would that be how Mr. Rowntree would read it?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: Obviously Mr. Rowntree was aware of the terms of reference for NAMA for an open process and getting the best return for taxpayers etc.-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: On the work done by the University of Ulster with NAMA and the other banks, is that how 50% of the assets or loans were outside Northern Ireland? It would not have included any of that information, or would it?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: I cannot figure out how a fire sale would have been in anybody's interest. Had all of the assets rather than the loan book been sold at the one time, if NAMA decided to sell them, they would have realised less.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (13 Oct 2016)

Catherine Murphy: ...of what Mr. Rowntree stated earlier about the outworking of the land banks? Would that have produced a better potential return for Northern Ireland, and perhaps the taxpayer, in compliance with the NAMA 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)

Catherine Murphy: The Minister outlined the context of his role in his opening statement and made his legal role clear, explaining that the NAMA Act is framed to ensure there is no political interference. However, it is fair to say, and the Minister probably would agree with me, that he is not passive in this either. As Minister for Finance, he has an insight that the rest of us do not have. He would have...

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)

Catherine Murphy: ...received a letter from the Minister of Finance in Northern Ireland, that there was an interest in selling the Project Eagle loan book, which was brought as a package and was obviously referred to NAMA. The Minister would have been familiar with that from an early stage. Were any questions asked or did it strike the Department to consider, at that stage or at any stage into the future,...

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)

Catherine Murphy: The Minister stated he would give his views to the NAMA board and listen to 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)

Catherine Murphy: ...were very big assets or loans. There was a deviation from the process. The Minister wrote a letter on 25 July 2013, which is reproduced on page 22 of the report, in which he states - quite rightly - that NAMA is required to get the best financial return for the taxpayer. If there was a deviation from a process that was likely to deliver less than an optimum return or involved a bespoke...

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)

Catherine Murphy: .... There is a clear Civil Service guideline in place pertaining to conflict of interest. Whose responsibility was it to ensure these guidelines were implemented? Was it the Department's or NAMA's responsibility?

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)

Catherine Murphy: The Minister referred to the European Central Bank. Did the ECB put pressure on NAMA to accelerate the sale of the assets or the loan book? At that point, did it intersect in any way with the timing that Project Eagle was going through? Did the compression of the timeline, from the original date of 2020 to 2018, have an impact at that point in the sales 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)

Catherine Murphy: The Minister said on a number of occasions, although he later qualified it, that he had no legal function in the commercial activities of NAMA. However, he has a legal function under the Act to direct NAMA in situations where he is protecting the taxpayer. That can only be done in real time, not retrospectively. To return to the process, this was a bundled sale of a very large...

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)

Catherine Murphy: ...of having all of that time to understand what the values of the various loans were. I accept the point the Minister made that the Department found out about it after the event but presumably NAMA would have to have known at the point when the sale was made because they would have been acting on behalf of Cerberus. Was the Minister informed at any point? I find it difficult to believe...

Other Questions: NAMA Assets Sale (23 Jun 2016)

Catherine Murphy: My question relates to the disposal of NAMA assets and the thinking behind reducing the duration of time for the working through of those assets. One of the consequences of that measure was that assets were bundled into very large portfolios. Did we get the best value possible by doing that? What was the thinking and rigour behind it?

Revised Estimates for Public Services 2016 (Resumed) (22 Jun 2016)

Catherine Murphy: ...commercial rates - it is probably €1.25 billion - it is important that we accelerate the digitisation process. Some records are historical. I was intrigued to see that Land Registry fees are foregone in the case of bodies such as NAMA. If there are full recovery costs, would it not be better to build them into the process when something is being sold? We are selling assets to...

Housing and Homelessness: Statements (22 Mar 2016)

Catherine Murphy: ...living increases might be considered as a tool for driving rents down. The Tyrellstown situation could be replicated elsewhere, unfortunately. I agree with some of the points made, such as that NAMA accelerated this. Government policy has dictated that NAMA off-load properties more quickly than originally intended and more or less invited the situation down on the residents of the...

Establishment of Independent Anti-Corruption Agency: Motion [Private Members] (8 Dec 2015)

Catherine Murphy: ...of its remaining loans which were worth €30 billion at nominal value. The same company, that is, Blackstone was permitted to bid for IBRC loans. When questioned about this, the Minister for Finance, Deputy Michael Noonan, dismissed the contention that there was a conflict of interest because the company had put in Chinese walls. Quoting fromwww.namawinelake.wordpress.com, the...

National Asset Management Agency: Motion (Resumed) [Private Members] (21 Oct 2015)

Catherine Murphy: ...confidence, even though there was not much confidence in the first place due to the controversies involved. Project Arrow needs to be halted, not least because on the one hand the Government said NAMA will produce a large number of houses in the next few years while at the same time the assets have been bundled in order to be sold. They can then have the advantage of driving up rents if...