Oireachtas Joint and Select Committees

Thursday, 14 December 2017

Public Accounts Committee

2016 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2016
Irish Bank Resolution Corporation Liquidation

9:00 am

Photo of Catherine MurphyCatherine Murphy (Kildare North, Social Democrats) | Oireachtas source

It just feels a little like roulette. I wish to refer to another sale of shares, namely, the Bank of Ireland shares. A European Parliament report on this has come out just in the last few days. I refer to the hedge fund with which Wilbur Ross was associated in 2011. It bought something like 34% or 35% of the shares after a large amount of money had been injected into Bank of Ireland and it took many people by surprise that they were sold at such a low rate. I think it was about 10 cent. There is an accusation now that when a large amount of the shares were sold in 2014, there was possible insider information and, obviously, insider trading because there was some knowledge of the market moving. Is the Department looking at this again? Is it a concern for the Department? Has there been any discussion about it?

Comments

No comments

Log in or join to post a public comment.