Oireachtas Joint and Select Committees
Wednesday, 22 July 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
Just to return to the past for a while, then, Mr. Mulryan, NAMA applied a discount of 5.25% to the long-term value of acquired properties to cover due diligence - this was on the macros level now - 0.25% and enforcement at 5%.
In your dealings with Irish banks, how would you rate the extent to which the banks sought robust legal documentation as part of the application process and was reliance on solicitors' undertakings, either commonplace or a rare situation, by your experience and observations?
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