Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Sean Mulryan:

Well, it meant ... but I mean, I understand why. But it meant that the business didn't operate for probably 12 months; it was just absolutely stopped. And from the point of view of some of our projects in London that we would have a lot of our sales sold with 20% deposit, we had to stop whilst all that was happening. But then I understand the difficulty of handing over such an enormous amount to a new entity, and they had to get their heads around it. It was obvious that this had to happen and it was going to take time for it to bed in. So, even though that's what happened, I can understand why it happened.

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