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Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Peter Burke: I will move on to Lazard and its engagement with NAMA. This obviously is a very narrow focus in my view, just from reading the report, but in terms of NAMA's engagement with it in terms of the initial briefing it gave, there does not seem to be written evidence of it. Why is this?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Peter Burke: Just to be clear because I am getting confused on this, does NAMA have a written brief that it gave Lazard? It is a "Yes" or "No" answer.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Peter Burke: I want to focus on the discount rate. In terms of property sales in NAMA, prior to Project Eagle how often was a 10% rate used? We have set out the policy in terms of the 5.5% rate, but Mr. McDonagh said there was flexibility. How often was this flexibility exercised?

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