Patrick Long, of Lazard and Co Ltd and Mary Lou McDonald, deputy leader of Sinn Féin
This morning.
At a meeting of the Oireachtas Public Accounts Committee.
Patrick Long, of Lazard’s – Nama’s loan sales advisor on the sale of Project Eagle – is answering questions in relation to the Project Eagle sale.
From the meeting…
Lazard, the firm employed by NAMA to manage the Project Eagle sale, were only to be paid a fee if the sale went through. That’s motivation!
— NAMAwinelake (@namawinelake) November 22, 2016
.@MaryLouMcDonald “it was most peculiar, unique and irregular to be engaged as loan sale adviser without a tendering process”
— NAMAwinelake (@namawinelake) November 22, 2016
£4.3m paid by NAMA to Lazard who had “6 or 7” people working on Project Eagle sale for 1/2 year. Hmm, Lazard engaged Jan14, sale in Apr14
— NAMAwinelake (@namawinelake) November 22, 2016
Lazard says it’s the norm for the sales adviser to value the loans but that didn’t happen with Project Eagle.Lazard was #NAMA sales adviser!
— NAMAwinelake (@namawinelake) November 22, 2016
Watch proceedings live here