Oireachtas Joint and Select Committees

Wednesday, 29 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Ms Ethna Tinney:

-----I feel that that would not be right. We were involved in that we were lending the money to build the building but we were also going to become the tenant. So it was wheels within wheels and a deal within a deal and an awful lot of the implications of this didn't become apparent. I also recall a long-standing difficulty where the board had said, ''We don't need all this accommodation. We don't need it all'', and in order to seduce us - I keep using that word, but it was a seductive technique - to agree to it, we were told that the 4th floor would be leased out and we would make so much money, you know, on the leasing of that, subleasing, to some other tenant. That never happened and I doubt that management ever intended that to happen, yes.

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