Oireachtas Joint and Select Committees

Thursday, 26 March 2015

Committee of Inquiry into the Banking Crisis

Context Phase

Mr. Michael Doorly:

No. The debt, to be clear, was €400 million at the start of 2013. That was dealt with through the disposal of assets, the restructuring of the pension plan, the bank write-down and raising cash from our shareholders. Indirectly, the staff did suffer with a reduction in their pension.

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