Oireachtas Joint and Select Committees
Wednesday, 22 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Susan O'Keeffe (Labour) | Oireachtas source
Mr. McDonagh, you say in your own opening statement it had become common for the lending to be on the basis of very high levels of project funding, sometimes 100%, and where an equity pledge from the borrower was required, it often took the form of unrealised paper equity from other transactions. Can you just draw that out or elaborate for us?
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