Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Okay. And €30 million was for planning ... or was for a development where planning permission refused for 737 apartments and 270,000 sq. ft. commercial space rejected by An Bord Pleanála on the basis of infrastructure and so on. Then there is €138 million to be clear in 12 months, designated site, substantially complete, €90 million for sites - and we don't know where they are - €59 million for five distinct sites, with interest being funded, €84 million for something that's 73% self-financing and takes this person's total exposure to AIB of €991 million. But of the request that was before the board that day, it was for a syndicate proposal that was going to be co-funded with NIB and another bank, which I just don't see in front of me here. There was two other banks in ... and the total request was €602 million of which ... €605 million, sorry, of which AIB were asked to put up €201 million. On this documentation, I can't see anywhere where the developer was putting in his own cash.

Comments

No comments

Log in or join to post a public comment.