Oireachtas Joint and Select Committees

Wednesday, 22 April 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Frank Daly:

No, it was not, the people who had borrowed the money to build assets, to build shopping centres, to build hotels or whatever and had income coming from those areas were taking the income and I do not know what they were doing with it but what they were not doing with it was actually repaying it to the banks.