Oireachtas Joint and Select Committees

Wednesday, 22 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Sean Mulryan:

Well, it varied depending on, on the size of the development, you know, it varied. On a lot of developments we put in cash, and when we didn't, when the cash wasn't available and there was equity, we done some cross-guarantees from other developments. For instance, we would normally put in, as late as 2007, one of the banks ... one of the big loans was about €185 million, in Battersea, and we put in €65 million cash in 2007, and then the bank put in the remainder, which was approximately €120 million, €125 million. So that ... so that was ... that's what we did on that particular one as late as 2007.

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