Oireachtas Joint and Select Committees
Thursday, 23 April 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Okay. In relation to this individual, which is one of your larger exposures ... we can see from Project Atlas in page 19 the different types of exposures you have, so this individual is definitely in the top five. In September '07, the board had approved that underwrite ... written ... €789 million. A number of weeks later, on the 5 December '07, a request came for €202 million additional to this individual. Now, the document ... if we look at page 36 of the document ... the document goes on to outline the individuals ... the bank's exposures already. They talk about a €202 million exposure. That is the request that was before the board. They talk about €228 million, which was significant pre-lets. They talk about €190 million, which was, interestingly - and there's details of this in the first page - which was €160 million to buy shares in ICG, which the board ... which was suggested represented long-term strategic investment. And I'd maybe ask you to comment ... how did that investment turn out or are you aware of how that investment turned out?
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