Oireachtas Joint and Select Committees

Thursday, 28 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Patrick Neary:

No, that ... that wasn't clear at the time. The loans, as we understood it at that time - to the best of my recollection now, Deputy - was that the loans were for working capital in the Quinn Group, right, that was the client, now what the Quinn Group, in turn ... you know, I can only presume, they were replacing funds that had been lent to Mr. Quinn by funds drawn down by the group from Anglo.

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