Results 12,281-12,300 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Which bank has its non-performing loans sorted at this stage?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: They have been sold to Cerberus.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: That sale involves Everyday Finance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Is Mr. Stapleton talking about the sale to Everyday Finance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Does Mr. Stapleton believe AIB is using the process to effectively delay any solutions until the loans are sold to a fund, Everyday Finance?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Obviously, Cerberus would have taken many of the farm loans. How have IFA members got on when dealing with the funds? Mr. Stapleton indicated the IFA is not dealing directly with the funds. Have IFA members done deals? Have they restructured loans for farmers, or appointed receivers? What level of engagement has taken place between the IFA and the funds?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Will Mr. Stapleton define a long-term arrangement?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: What typically is the timeframe?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: What refinancing options are being made available to IFA members?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Does Mr. Stapleton believe that the title "fund" is a misnomer and that effectively these institutions are asset disposal agencies as distinct from funds? In other words, they are borrowing the money to buy the loans and they have to get the money back.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: In that case, they are not funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: I am hearing from people that-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: We need to cut to the chase. In my experience the problem, in part, is that many of these so-called funds are not funds. Many of them are effectively asset disposal agencies that borrowed on the market, be it from vulture funds or whatever, and have to repay those loans quickly. Are these entities providing any long-term restructuring of loans?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Would Mr. Stapleton-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: No.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: This is a slightly different situation. The money that is used to purchase the loans comes from pension funds but the vehicles that purchase the loans have borrowed money from the pension funds.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: It is a subtle difference but an important one. If the loans were purchased directly by funds, which are pension funds, they would have the capacity to do long-term restructures.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: I ask Mr. Kissane to explain what he means by structured default?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: From the fund.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Sale of Loans to Unregulated Private Investment Funds: Discussion (18 Oct 2018)
Kieran O'Donnell: Is Mr. Kissane in a position to name the bank?