Oireachtas Joint and Select Committees
Thursday, 18 June 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source
Okay. In relation to the liquidation of IBRC, there was a direction order issued by the Minister on request of the Department of Finance that was to wrest the control, take the control away, from the board of IBRC into one individual. It's state ... said in page 46 that one of the concerns would be for the uncontrolled withdrawal of credit and deposits given the rumour and controversy that ... about the imminent liquidation. Did the Department ever investigate whether there was uncontrolled withdrawal of credit or deposits? Because you were obviously caught off guard here in relation to this and came in with this order to prevent it happening but up until then, up until about 4.30 when the order was ... took effect, did ... did you ever investigate that, if that happened or not?
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