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

Mr. Des Carville:

There are a few separate topics in the Deputy's questions. I am familiar with the report and the allegation. I am also familiar with Wilbur Ross's very detailed rebuttal of the allegation. I think that should be looked at because it explains the situation very well. At that point in time I was not working in the Department of Finance; I was an adviser to Bank of Ireland. I was Bank of Ireland's sponsor to its listing on the Irish Stock Exchange and co-sponsor, with UBS, to its listing on the London Stock Exchange. I was therefore responsible for the prospectus that was written to support that rights issue in 2010. I was also responsible for a prospectus written in 2011. With that hat on, I am absolutely satisfied, as were the directors of the bank because that is what they state on the first page of the document, that all the information investors needed to make a properly informed decision was in that document. I really do not want to get drawn into allegations because this is a matter between Wilbur Ross and-----

Comments

No comments

Log in or join to post a public comment.