Agency hired to find buyers for NAMA's Northern loans says it was a success

Agency hired to find buyers for NAMA's Northern loans says it was a success

The agency hired to find buyers for NAMA's Northern loans says it considers the operation a success.

Lazard is giving evidence to the Public Accounts Committee over the sale today.

Managing director Patrick Long says the agency was not asked to value the loans, as would be required in many cases.

But he says the sale was successful from his perspective:"We ran a highly competitive sale process that was designed to meet NAMA's objectives and which did in fact reach NAMA's objectives.

"And which resulted in a sale of the portfolio to surplus of the price at NAMA's reserve price."

More in this Section

Twelfth of July to be marked with at-home celebrations in NorthTwelfth of July to be marked with at-home celebrations in North

Coronavirus has big impact on mental healthCoronavirus has big impact on mental health

Masks confusion as Cork GAA player tests positiveMasks confusion as Cork GAA player tests positive

Picture of garda’s son, 2, shown in interviewPicture of garda’s son, 2, shown in interview


Lifestyle

Conservationist Giles Clark takes on the illegal wildlife trade, as well as the task of building a bear sanctuary in Laos, South-east Asia, in BBC Two series Bears About The House.Five minutes with ... Giles Clark

Forget G-spots. Let's focus on the C-spot and close the orgasm gap once and for all.Sex File: The G-spot is dead. Long live the C-spot

Workshop leaders from the West Cork Literary Festival offer tips for writing in areas such as biography, short stories and travel, writes Des O’DriscollSo you want to be a writer?

'He told us we were so scared of dying, we forgot how to live” - Guru: The Dark Side of Enlightenment is this week's podcast pickPodcast Corner: Guru tells of sweat-lodge tragedy and James Arthur Ray

More From The Irish Examiner