Dáil Éireann Debate, Tuesday - 25 September 2012
107. Deputy Pearse Doherty asked the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the controls NAMA has in place to ensure that the provision of loan advisory services by Ernst and Young is not compromised as a result of the alleged unauthorised disclosure of information. [40288/12]
Amharc ar fhreagra108. Deputy Pearse Doherty asked the Minister for Finance in relation to the alleged unauthorised disclosure of information at the National Asset Management Agency by a former employee, the number, original book value, sales status, sales value, sale completion dates of loan portfolios that in relation to which NAMA has engaged Ernst and Young to provide loan advisory services. [40289/12]
Amharc ar fhreagraI propose to take Questions Nos. 107 and 108 together.
I understand that there has been full co-operation between NAMA and Ernst & Young in the investigation of this matter.
More specifically to your question, I am advised by NAMA that it has not to date deployed the firm of Ernst & Young as an adviser on potential loan sales transactions.
NAMA further advises that when making an appointment from the loan sales advisory panel, it is normal practice to invite three firms from the framework panel to participate in a mini-tender so as to minimise the transaction cost to NAMA. Before receiving any detailed information relating to the particular transaction involved, firms are required to confirm that they have no conflict of interest. A breach by any firm under this requirement would result in that firm’s disqualification from future assignments awarded by NAMA and would clearly give rise to significant reputational issues for the firm concerned.
