Results 2,201-2,220 of 26,825 for speaker:John McGuinness

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: Deputy Barry understands that the figures for 2022 may not be available because of the accounts period of AIB. He is pressing AIB for historical information that is already in the public domain.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: Deputy Barry left out the 1,900 cases and asked AIB how much was written down in the years 2015-18. AIB can give him that figure because it is in the accounts. Please give him those figures.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: The Deputy is trying to be helpful.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: I reassure Deputy Troy if the bank has to be invited in again then, as Mr. O'Keeffe knows, we will issue the invitation. There have been extensive questions asked and information requested during the course of this meeting and I am sure AIB will provide us with what we need as soon as possible. Deputy Mairéad Farrell is waiting to come in, but I want to go back to something Mr....

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: So where the customer ends up is a matter for the customer and the level of engagement will dictate. Okay. On the residual debt, some is sold on and in some cases it is written off. What is the breakdown of that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: So that is also dependent on the standard financial statement and engagement and you arrive at a point where it is write-off or residual debt and repayment over a period.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: What does that mean, that the bank will look at it independently?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: So it does not just end. From what Mr. O'Keeffe says here, there seems to be a significant range of offers to make to a customer in terms of the processes within the bank. Even at the end, there is still an opportunity to go back to Ms Duffy's section and have it reviewed again, in terms of fairness and so on.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: Okay. My last question is on the loans that are sold on to a vulture fund. Would the bank consider that in future sales that whatever vulture fund might purchase the loans, that AIB would insist on it giving its contact details to the customer? It is impossible to get in touch with them. It is impossible to pick up the phone and ring on their behalf if you are a third party. It is very...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: I thank the Deputy. This brings us to the end of our meeting. Before he leaves, I remind Mr. O'Keeffe about the EBS and Belfry Funds and ask him again if he would be able to bring us up to date in this regard at another time. I encourage the reaching of resolutions and the taking out of roadblocks that appear to exist to this happening. I thank Mr. O'Keeffe and his colleagues before the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Debt Write-down and Debt Resolution Policies: Allied Irish Banks (2 Mar 2023)

John McGuinness: My next question relates to receivers. I am always intrigued by the appointment of receivers. Like Deputy Troy, I have experience of a case where receivers were appointed. From the description I received from customers, not only to do with AIB but also other banks and other properties, they tend to run roughshod over the rights of people. There might be a question over the collection of...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Funds: Discussion (1 Mar 2023)

John McGuinness: I am interested in the bank depot idea. I presume Mr. Kissane took it from the political depot operated by the Government and where nothing gets done. The three presentations were excellent and focused on the points we wanted addressed. While we might not agree on some of the points raised on either side of the discussion, there is a consensus about needing change and for something to be...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Funds: Discussion (1 Mar 2023)

John McGuinness: I take those points. Mr. Kissane made a point about the conditions from loan offers in respect of the securitisation of the loan. What is his view on that?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Funds: Discussion (1 Mar 2023)

John McGuinness: When Mr. Kissane came before the committee regarding the tracker mortgage issue arising from that and other engagements with Mr. Hall and Mr. Burgess, some customers of the banks came forward, explained their cases to us, bared their souls and gave us a better insight into what was going on. Does Mr. Kissane have examples of cases that might do likewise in terms of the treatment customers...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Funds: Discussion (1 Mar 2023)

John McGuinness: Do we have any idea of the numbers who will be affected by this?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Investment Funds: Discussion (1 Mar 2023)

John McGuinness: Is Mr. Burgess saying that there are 63,000 mortgages with the vulture funds?