Results 101-120 of 429 for nama speaker:Mary Lou McDonald

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)

Mary Lou McDonald: Would it be fair to say that when they worked together in Morgan Stanley, they worked on the acquisition of a NAMA loan or loan portfolio?

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)

Mary Lou McDonald: ...and examine it, he would find it to be the case. I know it for certain in the case of Mr. Keinan because I have correspondence from Mr. Frank Daly which confirms that there was interaction between NAMA and Mr. Keinan when he worked for Morgan Stanley. Perhaps Mr. Neporent might recall this. It is a matter of public record.

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)

Mary Lou McDonald: ...the time line and how all of this happened, on 12 March PIMCO withdrew because it had rumbled that a fee was payable to Mr. Cushnahan and was uncomfortable about it. In fact, it got in touch with NAMA to report all of this to it under the Foreign Corrupt Practices Act, with which I am sure Mr. Neporent is familiar.

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)

Mary Lou McDonald: Its compliance people became anxious and made contact with NAMA. NAMA has asserted that PIMCO was told to leave the process, but PIMCO is absolutely resolute that it left because it was unhappy that there had been a breach of compliance. It is resolute on the matter. Did Mr. Keinan or anyone else at any stage say to Mr. Neporent that PIMCO had left or that it was told to leave?

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)

Mary Lou McDonald: ...we have established that it was bringing to the table information on debtors and assets. Interestingly, Mr. Neporent refers to an abstract of each loan, a view of the debt, business plans, etc. NAMA's testimony to the committee is that the debtors were being very awkward and not playing ball with it in producing these plans. However, Mr. Neporent states Brown Rudnick, Tughans and Mr....

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)

Mary Lou McDonald: Could we find out? The bit that astonishes me, which has remained the position of Cerberus and NAMA, is that NAMA had no notion of Brown Rudnick being involved with Cerberus until 2 April. The witness may keep me right on those dates. In other words, the agency did not know Brown Rudnick had any involvement with Cerberus until the bid was in. To put it one way, I am a bit sceptical of that.

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)

Mary Lou McDonald: I thank Mr. McCarthy for the clarification. What is the deputy First Minister's role in 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)

Mary Lou McDonald: Mr. McGuinness met them on that occasion. What is his oversight role in NAMA, its operation or any of its transactions?

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)

Mary Lou McDonald: Would it be fair to say the relationship between NAMA and the Executive, specifically the Offices of the First Minister and deputy First Minister, was one based essentially on political courtesy or political sensitivities?

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)

Mary Lou McDonald: I will just tease that out. I raise this purely because a line of thought has emerged from Deputy Kelly in terms of the toxicity of NAMA and this deal, which is one way of interpreting matters. Of course, the other line concerns the kudos that would accrue to whoever might sort out the NAMA issue. This is speculative and I will not detain the deputy First Minister too long on this. Could...

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)

Mary Lou McDonald: ...as regards that breach of faith. Looking at the circumstances now can I put two questions to him? Deputy Noonan is the line Minister in the Southern Administration that has responsibility for NAMA. The deputy First Minister has made it clear, and I respect his position, that he is not here to criticise Deputy Noonan. He knew about the success fees or fixers' fees. Does the deputy...

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)

Mary Lou McDonald: What about NAMA's assertion that in any event, around Mr. Cushnahan and the management of conflicts of interest, it would not have been in a position to remove him because of the consequences north of the Border? In the view of the deputy First Minister, is that an accurate assertion ? Would it have caused a diplomatic situation?

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)

Mary Lou McDonald: ..., as troubling as they are, they clarify what were gaps in the sequence of events and our understanding of what happened and why. It now seems that Project Eagle was conceived of not by PIMCO, as NAMA had asserted, but by Brown Rudnick, along with Tughans and Mr. Frank Cushnahan. Obviously, this needs serious investigation, as the Chairman said. We need to seek the assistance of Mr....

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)

Mary Lou McDonald: The suggestion was made by Deputy Cullinane that we need to hear from NAMA legal and also from the board members who were so vociferous and voluminous: Mr. McEnery, Mr.-----

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)

Mary Lou McDonald: ...to the Comptroller and Auditor General's report has been boiled down to his estimation of probable loss in respect of that transaction. I refer to document PAC32-R-167 B, which is from the NAMA audit committee meeting on Thursday, 1 May 2014. We received it yesterday and Mr. McCarthy referred to this earlier. The document states and then reiterates, "Based on preliminary calculations it...

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)

Mary Lou McDonald: The public needs to know this. There has been such a hullabaloo. One would swear Mr. McCarthy had made the most outlandish of accusations in citing a probable loss when, in fact, NAMA officials have conceded the point repeatedly at an audit committee meeting. Was that not all a journey up and down hill and vale for nothing? I just wanted to see if he had an explanation for that.

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)

Mary Lou McDonald: ...of a letter that was sent to Mr. Harkness in the Comptroller and Auditor General's office from Ms Ann Nolan. She raised a couple of issues with the Mr. McCarthy and challenged his assertion that NAMA did not seek formal external advice on its sales strategy. She also challenged him on his claim of a potential loss to the taxpayer. On a previous outing here, at our meeting on 6 October,...

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)

Mary Lou McDonald: I am struck by the singular style of writing. Ms Nolan has given us a comprehensive overview of the NAMA Act, for which I thank her. Can she give us a word that describes in her mind the role of the Department of Finance in its interaction with NAMA? Is it "watchdog", "overseer" or some other word?

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)

Mary Lou McDonald: The Department has told us before that it has regular interactions with NAMA.

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)

Mary Lou McDonald: Mr. Reid is the NAMA person. Do some of those interactions include Mr. Reid being part of or attending NAMA audit committee meetings?