Ciarán Lynch (Cork South Central, Labour) | Oireachtas source

I now propose we return back to public session. Is that agreed? And in returning to public session, this is our fourth session of today, the Committee of Inquiry into the Banking Crisis is now resuming in public session. Can I ask members and those in the public Gallery to ensure that their mobile devices are switched off.

At our next session we will hear from Mr. Michael O'Flynn, founder, O'Flynn Construction Group. This is one of several sessions in which the inquiry will focus on relationships between property development companies and their principal financial institutions. Mr. Michael O'Flynn founded O'Flynn Construction in 1978. The O'Flynn Group operates a number of businesses in Ireland, the UK and mainland Europe. The group's activities cover property investment, development, construction and the provision of student accommodation. The group, as well as its personal borrowings, have now exited from NAMA. Mr. Flynn, you're very welcome before the committee this evening.

Before hearing from the witness, I wish to advise the witness that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect to their evidence to this committee. If you are directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you are entitled thereafter only to a qualified privilege in respect of your evidence. You are directed that the only evidence connected with the subject matter of these proceedings is to be given. I would remind members and those present that there are currently criminal proceedings ongoing and further criminal proceedings are scheduled during the lifetime of this inquiry which overlap with the subject matter of the inquiry. Therefore, the utmost caution should be taken not to prejudice those proceedings. Members of the public are reminded that photography is prohibited in the committee room. To assist the smooth running of the inquiry, we will display certain documents on the screens here in the committee room. For those sitting in the Gallery, these documents will be displayed on the screens to your left and right. Members of the public and journalists are reminded that these documents are confidential and they should not publish any of the documents so displayed.

The witness has been directed to attend this meeting of the Joint Committee of Inquiry into the Banking Crisis. You have submitted a witness statement. This is before the committee, will be relied upon in questioning and form part of the evidence of the inquiry.

I now ask that the clerk will administer the oath to Mr. O'Flynn, please.