Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Overview of the Banking Sector in Ireland: Allied Irish Banks
2:00 pm
Mr. Mark Bourke:
In regard to the process, Goldman Sachs has been engaged by the Department to talk about and resolve the capital structure of the business. That is one piece of work. Those discussions are ongoing and will, ultimately, be resolved between the Department, the bank and the regulator. That piece of work involves an adviser and if that was not from Goldman Sachs it would be from one of the other investment banks.
In terms of profitability and profiting from insider information, that is governed by the law and by the fact that anybody who is conflicted cannot be on two sides of a transaction which means they cannot legally profit from that situation.
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