Results 121-140 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) (10 Nov 2016)

Mary Lou McDonald: Can the witnesses describe to me the dynamic of the interaction with NAMA? What information does it get? What raw material does it have access to and sight of? Perhaps Mr. Reid is best placed to help me.

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: ...Dáil debates in the process of preparing for each of those individual interactions, and in helping he Minister to prepare for each of those interactions in the Dáil we would have interacted with NAMA on some of these issues and this would be an aggregation of all of that work.

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: Did NAMA disclose to Mr. Reid, all of the details with regard to PIMCO's approach to them, PIMCO's disclosure around the success fees, fixer fees and so on?

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: Okay, and somebody told the witness. I am just trying to establish who. NAMA gave Mr. Reid this information, is that correct?

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: Did NAMA indicate to Mr. Reid that the relationship with PIMCO, Brown Rudnick, Tughans and so on, went back to April 2013?

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: -----but Ms Nolan had no access to that. I thank Ms Nolan. With regard to PIMCO's withdrawal, the witness has said that NAMA said to the Department of Finance that it had made it clear to PIMCO that PIMCO was to hit the road and withdraw.

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: PIMCO absolutely refutes NAMA's account of events around that time.

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: We have, and Ms Nolan is here now and I am asking for her view. She was the strategic overseer of people of NAMA, she has an ongoing relationship with them and she surely has a view with regard to those conflicts of interest as public servants.

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: Perhaps the witness would just explain this to me as I need to have it clear in my head. Ms Nolan has this relationship with NAMA, she meets with them, she takes a strategic overview role and Mr. Reid is the point person for that aspect. Ms Nolan works more closely with the Minister.

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: Ms Nolan speaks to the chairman of NAMA and she speaks to the Minister etc., etc.

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: ...before the committee on 6 October, she said she raised the issue of the discount rate. She will be aware that it has been a matter of contention. The established rate was 5.5% as agreed by the NAMA board yet NAMA says the discount rate applied in respect of the Eagle Project was 10%, that that was the appropriate rate and so on. Ms Nolan said at her last appearance that she had raised...

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: ...or otherwise of the Comptroller and Auditor General's report and matters associated with it, as well as answers in terms of the kind of surveillance and oversight she carried out in respect of NAMA and its role, not just for the Minister but for the taxpayer.

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: Sorry, Ms Nolan, but is it a matter of absolute coincidence that that is precisely the position taken by NAMA? Is that purely coincidental?

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 do not know if that is deliberate or accidental but I hear Ms Nolan very much taking an identical analysis to NAMA and perhaps that is okay. Perhaps she has just arrived at the same conclusions.

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 have one very short question for Mr. Reid following on from his thought that the Comptroller and Auditor General might benefit from additional advice. Has he ever advised NAMA that it should seek external or additional advice? Did he do so in respect of the sale of Project Eagle because-----

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: My question is to Mr. Reid. Has he ever made a similar suggestion or observation to NAMA? Did he make that observation in respect of the entire Project Eagle process, particularly because one of the notable things from the NAMA side was an excessive reliance on valuations that dated back to 2009 and a limited remit for Lazard? As Mr. Reid is obviously a person who thinks these matters...

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: In other words, Mr. Reid would always have taken the view that NAMA was more than equipped internally and in terms of external advice to discharge its functions fully.

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)

Mary Lou McDonald: -----informed the committee that contact had been made with NAMA by PIMCO in reporting concerns under the Foreign Corrupt Practices Act. As somebody who was party to some, although not all, of the telephone calls in question, did PIMCO seek the acquiescence of NAMA to the fee arrangement in question?

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)

Mary Lou McDonald: One would be surprised then that the minutes of the board meetings on 13 March, which were signed off on by the NAMA board, state PIMCO had sought NAMA's acquiescence, namely, to the fee arrangement.

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)

Mary Lou McDonald: Board minutes of the meeting on 11 March, two days previously, recorded the following sentiment:PIMCO, ostensibly in the spirit of transparency, wish to advise NAMA about the success fee arrangement and sought NAMA's agreement that it was appropriate. The word "ostensibly" is used in minutes of the board meeting, which it seems is questioning the motivation of PIMCO which, it should be borne...