Results 24,561-24,580 of 34,833 for speaker:Seán Fleming
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Note 24, page 42, of the Bord na gCon annual report 2014 states under the heading, commitments and contingencies:The board is involved in legal cases, the outcome of which are not possible to predict. No provision has been made in the financial statements for the year ended 31 December 2014. Have any major cases been settled recently? What were the costs that were not possible to predict...
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: No. I am not a bit interested in the IGB’s costs. That would be a small element of it. I am sure the settlement and compensation, which might have been paid, is where the main money lies. I am sure the costs the IGB incurred to date were approved for in the 2014 accounts. Did it involve a payment by the IGB to settle the three cases?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: That would indicate the IGB will pay its own costs, the settlement and probably pay the other party’s costs.
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: We are in a difficult situation because a large proportion of the IGB’s income is taxpayers’ money. There was a time some years ago when the taxpayers’ contribution was 20% or 30% of the board’s income. It is now heading towards 50%. The IGB is not a commercial organisation and could not exist without a taxpayer subvention of €14 million next year. We...
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: In other words, there will have to be some disclosure when the board members come to sign off on the accounts for next year. Will the witnesses square that circle for me in the context of the confidentiality agreement?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: I thought the IGB settled something and it was just the final details that had to be signed off.
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Okay. Three cases were mentioned. Who were the defendants in each case? Was it Bord na gCon or individual board members? To whom is the taxpayer paying money? I will cut to the chase. If these cases were before the High Court, then they would have been listed. I can google the High Court website to find the names in the cases.
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Are the trainer and the owner two different people?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Was the third case against the chairman, Mr. Meaney?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Why would the taxpayer be indemnifying an individual board member for something he may have done wrong? Why did the board feel the taxpayer should hand out substantial money? Why would it indemnify a board member if he was before the High Court for a case the board felt it had to settle? Who approved the use of taxpayers’ money for that purpose?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Did Mr Meaney say that the not having insurance for directors was the exception or the norm from his experience?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: When was this put in place if the settlement was only made recently?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: When did the board become aware of the problem of the director who had no insurance? Was it prior to that and it was decided to insure from thereon?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Yet, Mr. Meaney said the case was concluded.
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: 2010.
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Is it correct that the settlement or compensation relates to the 2010 event and that perhaps the most recent issue of the director could have been settled by way of an apology or something like that?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Can Mr. Meaney provide a breakdown? He may not disclose it now but we will be asking-----
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Can he provide a breakdown of the three cases?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Was it a global settlement?
- Public Accounts Committee: Bord na gCon Financial Statements 2014 (26 Nov 2015)
Seán Fleming: Will the payment be made in this calendar year? Will it be in the 2015 accounts?