Oireachtas Joint and Select Committees

Thursday, 23 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Donal Forde:

No I don't think that's entirely true. I mean, what earlier on I was describing what would typically be happening with a large-scale developer like this, there would be a whole series of different elements of business going on as is indicated by the different facilities here. Each of those would have a slightly different profile and some of them will represent, in some cases land will be purchased five, six years previously on which there is a very substantial equity today. In some cases, there's housing stock that's under construction for two or three years that's now ready for completion. So, or there may be an office development that's being developed that is now ready for sale, so they are not cash but they're near cash if I can describe some of them in that-----

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