Results 161-180 of 386 for nama speaker:Catherine Connolly

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: ...train of thought so late in the evening, at 7.30 p.m. Ms O'Reilly has made the point clearly. I will not repeat it. On 3 April, did it not occur to her, as head of legal, to say to herself that NAMA discovered this within less than a month of the whole shock over PIMCO and the fees and that it was now 3 April? One would be forgiven for thinking it was 1 April. NAMA had just learned...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Brown Rudnick, within a one day, went to the successful bidder, and the solicitors were to get a success fee. NAMA knew they have been with PIMCO prior to this and that the money was allegedly to go to a former member of the Northern Ireland advisory committee. I asked Ms O'Reilly whether alarm bells went off in her head about the process or anything else.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Forgive me, Mr. McDonagh, but this was 3 April. I think NAMA was communicating by e-mail to congratulate or arrange to talk to Peter Robinson and Dan Quayle on the same night. 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) (24 Nov 2016)

Catherine Connolly: That is right. On the same day, though, that NAMA was concerned about Cerberus. Later that night there were phone calls-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I ask Mr. Daly to let me finish and put this into perspective. On 3 April, when this came to NAMA's attention, it should have been shocking news. That very night there were all sorts of e-mails being sent right up until 11.30 p.m. between Mr. Daly and Mr. Collison, I think, about arranging a phone call with Peter Robinson. Is that right? This was with a view to making arrangements with...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Mr. Daly was not, but somebody was communicating with NAMA to ask whether it would be all right to release Mr. Robinson's number so that a phone call could take place.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I accept that but unfortunately the Comptroller and Auditor General says NAMA should have followed up. He sets out five specific points on page 95 about what NAMA should have done. I imagine if the witnesses re-read them, they could not but agree with him. They are the concerns about following up and potential conflict of interest. I do not think the Chairman will let me go through all...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: If Mr. Daly reads the first point: "Mr Cushnahan’s declared involvement with NAMA debtors whose loans represented at least half-----"

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Mr. Daly can read that. He goes on to say:NAMA should have formally considered whether Mr Cushnahan's engagement in discussion of its Northern Ireland strategy – including the PIMCO/Brown Rudnick approach – was consistent with his ongoing involvement as financial advisor to a significant proportion of the Northern Ireland debtor connections. Would Mr. Daly accept that?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: It is not a question of my agreeing with it. It is a question of the Comptroller and Auditor General's report. This is not an inquiry. It is a report. NAMA said this was totally wrong, that nobody with commercial experience would have made such a decision and so on. I have repeatedly tried to bring the witnesses back to the concerns raised in the report.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Clients move from solicitors all the time. That is correct. In this situation PIMCO withdrew under a cloud. There is a disagreement between NAMA and PIMCO as to the nature of that, although the record is quite clear, I think, that PIMCO sets out that it brought it to NAMA's attention. There is a different context here of a solicitor moving on, from the bidder that withdraws under a cloud...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Does NAMA have minutes of the meeting?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: The whole report is about the process - trust and reassurance and the integrity of the process. That is what this is about. Now I hear that three gentlemen from NAMA met with Fortress on 25 March. I will leave it at that. Is Mr. McDonagh aware of meetings Mr. Hanna had with anybody? Did he meet with Fortress, Cerberus or anybody else?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I am finishing on this question. The process is crucial and NAMA has come back repeatedly to say that there were nine or ten bidders. I have repeatedly gone through the Comptroller and Auditor General's report and said there was not. There was eventually, but there were three bidders initially. Sorry, Mr. McDonagh, if you could resist distracting Mr. Daly, I wish to put the question to...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: Mr. Patrick Long said that he believed that NAMA really wanted PIMCO to be in the process. His words, subject to checking, were that NAMA certainly did not want to lose PIMCO.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: ...has said that and there is a conflict there. Let us look at page 112, paragraph 4 of the Comptroller and Auditor General's report. PIMCO were in the process from a very early stage, not with NAMA, according to the witnesses, but with Brown Rudnick and Tughans from April 2013. They went forward to September and through the various board meetings. On 8 January 2014, a decision was made...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (24 Nov 2016)

Catherine Connolly: I do not think NAMA was, when I look at everything. NAMA opened it up to a small-----

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Had Mr. Long worked for NAMA prior to working on Project Eagle?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Has he worked for NAMA since working on Project Eagle?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed) (22 Nov 2016)

Catherine Connolly: Has Lazard worked for NAMA since or done work for NAMA since?