Oireachtas Joint and Select Committees
Thursday, 1 December 2016
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Banking Sector in Ireland: Ulster Bank
9:30 am
Pearse Doherty (Donegal, Sinn Fein)
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Businesses believed they would be supported but, as was put to me, they were not aware that they were being put on death row. Is it credible that fewer than 100 out of 2,141 businesses that went into a global restructuring group came out alive? Is there truth in the allegation made, which is that the group was a vehicle that allowed Ulster Bank to appoint receivers and liquidators for businesses with equity in respect of their assets? Was it not a snatch and grab? The bank strangled businesses. I accept that some would never have survived but the figures are completely out of line with anything we have seen among any of the bank's peers across the Irish banking sector. Does Mr. Blair acknowledge that?