Results 121-140 of 174 for nama speaker:Eoghan Murphy
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: NAMA is legally obliged to buy them at the reserve price if they are not sold but will then undertake a valuation itself internally.
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: In regard to the impairment on the books for the initial years, NAMA's assessment indicates that it paid too much for certain loans or assets at the beginning.
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: Perhaps I can ask Mr. Moran one question. It is about oversight by the Department of NAMA in general. He will be aware from the legislation that the Minister and the Committee of Public Accounts are named. Therefore, we have a shared responsibility in looking at this agency and ensuring it operates in the way it should. Is the Secretary General satisfied with the oversight role his...
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: How frequently would the Minister be involved in terms of discussing NAMA on a given day or at a special meeting?
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: To date, the compliance officer has not had to do so in respect of any employee of NAMA.
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: We discussed the issue of gardening leave at our previous meeting with NAMA representatives when we heard the options available were for three or six months, depending on the individual in question. Mr. McDonagh indicated that, following an internal legal review, the minimum period of gardening leave would be extended to six months. Why was the decision taken to increase the minimum period...
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: ...detail in September. Will Mr. McDonagh confirm that the review that resulted in gardening leave being extended to six months had nothing to do with concerns arising from what was taking place in NAMA?
- Public Accounts Committee: 2012 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Vote 7 - Office of the Minister for Finance
NAMA - Annual Report and Financial Statements 2012 (20 Dec 2013) Eoghan Murphy: On the valuation of loans being transferred to NAMA from IBRC, is the same process being applied to these loans as was applied to the original NAMA loan book in 2009?
- Public Accounts Committee: Business of Committee (19 Dec 2013)
Eoghan Murphy: .... The Chairman said for the HSE alone we could have a standing Committee of Public Accounts meeting week after week because there is so much to do. If we have a more thorough investigation into NAMA next year there will be more meetings. This issue alone has prompted additional meetings. We do not want to drop the ball. We want to ensure the Committee of Public Accounts has enough...
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: ...with another agency which had a mandate to perform a role in a particular part of Dublin. It decided to get involved in providing financing and acquiring loans and it worked out poorly for us. NAMA is dealing with the legacy of that.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: NAMA is a commercial operation but the risk falls on the State. The agency provides vendor financing to bring other people to the table but it has only brought itself to the table. Mr. Daly referred to a rigorous process but we cannot see that.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: ...the meetings were held, different discussions and papers were involved and all the rigorous process was gone through but it was a massive mistake for the State. I have a worry when I see this as NAMA stepping outside its brief in this regard by getting involved with private entities to purchase loans from itself. I have a concern about that.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: I would like to ask some questions on the process in terms of NAMA's operations. How does NAMA market its properties or loan books to potential investors, who may be overseas?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Would foreign banks or funds approach NAMA directly without an agent being involved?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Would they come to NAMA and say they would like to invest a certain amount?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: When Mr. McDonagh talks about it being a competitive process, if there is, say, a property in Dublin and an approach is made by a fund of investors on that property, must NAMA let others know it is engaging with that fund?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Does NAMA ever get multiple approaches and then not sell?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Who makes that assessment? If they offer 20% of what NAMA thinks it is worth it is clear, but what if it is closer than that?
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: If we do not make a decision, or if we make a decision to invest, the risk if that goes wrong is carried by the board but falls, ultimately, on the taxpayer, for example the Aspen deal where NAMA has invested.
- Public Accounts Committee: Annual Report and Financial Statements 2012: Discussion with National Asset Management Agency (26 Sep 2013)
Eoghan Murphy: Was the best way to achieve a higher assessment of the portfolio for NAMA to take a stake in it?