Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Frank Daly:

Absolutely. And I am on record before, Deputy, in terms of this, that in tranche one, there were €1 billion worth of loans from one particular institution which did not transfer to us in tranche one because when they looked at security, they did not have first rank on security and they had to go to the courts to perfect our security.