Brian Cowen (Laois-Offaly, Fianna Fail)

The due diligence that arose in December raised certain questions which were referred to the Financial Regulator, who also referred them to the Office of the Director of Corporate Enforcement. As I have said in regard to this matter, it would not be appropriate to bring forward partial information which is still under investigation. We await the outcome.

What we are concerned with here relates to corporate governance, the loans of the directors and the Irish Life & Permanent back-to-back loan, and there is also the question of the unwinding of the contracts for difference with the investors and the Quinn family. Those are the issues of corporate governance arising now and they are under consideration and investigation by the relevant authorities.

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