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Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I thank Mr. McKenna. I call Ms Curley to make her opening statement.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Mr. McKenna said the Departments have had huge success in that area.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Where?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: How does Mr. McKenna claim that success?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Does Mr. McKenna think the Abhaile scheme has brought about this success?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Yes, but I am asking Mr. McKenna if he is saying this is because of the Abhaile scheme.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Mr. McKenna claims that as a success. What informs him in the view that the Departments have had some role in this success?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: What does Abhaile do for them?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: If Deputy Doherty wishes to contribute first, we will revert to Ms Reid for an answer that question.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Does Ms Reid wish to speak about the Abhaile scheme?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I am sorry for interrupting but what is the extent of the financial help given by the Abhaile programme? Ms Reid can just give me the figure.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: How much money do they get?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: So how much do they get paid?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: What money changes hands in terms of fees for those people? Is what the borrower can avail of open-ended or limited?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: Does Ms Reid have no idea of the costs involved?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I am working against the clock here and I want to-----

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: What is the cost there?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I respect all the work the officials are doing. I will start from that point. The reason I asked that the committee would bring in the officials is because of the numerous stories I have head about receivers. I am giving the officials information that has come out of my discussions with borrowers and so on. The first thing I wanted to get absolutely clear was the fact that receivers are...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I will stop Mr. McKenna there because this is the nub of the thing. If someone is a receiver and an accountant, his accountancy regulator does not look at his work as a receiver. Mr. McKenna may be putting forward a case that someone who is regulated as an accountant must be an okay kind of person. I question that, too. We had the accountants during the bank collapse and they were not...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Governance and Regulation of Receivers: Discussion (18 Oct 2018)

John McGuinness: I apologise for interrupting Mr. McKenna again. I am keen to take each point as he makes it. I do not want another examination. I want somebody to understand that this is going on.

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