Oireachtas Joint and Select Committees
Wednesday, 1 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ms Ann Nolan:
I think technically, from an accounting point of view, they were probably solvent on the night of the guarantee, they just simply weren't able for the ... for the property collapse which, certainly by mid-November, was very obvious that year and had started well before that. So technically, being solvent wasn't sufficient.
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