Results 3,001-3,020 of 12,318 for speaker:Paul Murphy

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Of the 18,300 mortgages in Project Glas, how many account holders have not engaged with the bank for longer than seven years?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Permanent TSB released a press statement stating that some account holders have not engaged with the bank for more than seven years. The bank's representatives have now come before the Joint Committee on Finance, Public Expenditure and Reform, and Taoiseach and I am asking them to how many account holders this applies. Permanent TSB can say "some" in its own press statements. How many have...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Why did the bank say in its press statement, which was well covered by the media, that some account holders have not engaged for over seven years, especially if the witnesses are not willing to give us the figures for how many have not so engaged?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Can Mr. O'Sullivan give us the figure in the course of the next week?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Why is it included in the press statement? What is the purpose of saying that some people have not engaged for over seven years?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: Is the purpose not to paint those who have not engaged for more than seven years, and by extension all of those in Project Glas, as people who are not engaging with the bank and should not be respected? They are trouble. They should not be treated as human beings who have the right to access to homes. The purpose is basically to paint them in a certain light in order to justify throwing...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: However, even where Permanent TSB has engaged with people, and they reciprocated and have come up with solutions such as split mortgages etc., the bank is still willing to throw them to the vultures. I am not sure that displays a lot of care for the interests of the witnesses' customers.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: They are the facts but the consequence does not have to be that Permanent TSB sells these people's mortgages or the mortgages of buy-to-let properties where there are tenants to vulture funds. Those funds will simply be after the quickest buck possible, with no concern whatsoever for the interests of these people. One does not follow from the other. Yes, the bank has to reduce its...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: There has been a lot of focus, rightly, on the question of owner-occupiers, who make up about 14,000 of the loans in Project Glas. The statement submitted by Mr. Masding claims that "As the Governor has also pointed out, the evidence to date does not support the narrative that these secondary buyers are managing these loans any more aggressively than the original banks were." That certainly...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: That is the point, is it not? The witnesses wash their hands of the issue and hand it over to someone else to do the dirty work, and then it is not their fault. Formally, it is not their fault but in a sense, they will have sold these people's homes to vultures who do not care about them at all. I am not saying the witnesses care about them very much but at least their bank is under State...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: I am not without criticism of Permanent TSB dealing with buy-to-lets but the evidence is that the treatment of tenants by the vulture funds will be a lot worse. That is demonstrated by what has already taken place. The witnesses should feel free to respond to that. I will ask another question. On the one hand, the witnesses have said that it is early days for Project Glas and so the...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: When will the consultation with the Minister take place in that process?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: On average - I am not looking for specifics - what is the gap between that and this sale actually taking place? Is it a month or a couple of months? Is it that kind of period of time?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: The consultation with the Minister that is set out in the framework agreement has not taken place.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)

Paul Murphy: I will repeat the question. It is my last question. If the Minister accurately represents the views of the Parliament and the people and tells the bank he does not want it to go ahead with the sale to vulture funds and to find an alternative solution, whether that is selling it to another bank or pursuing it more aggressively itself, how will the bank deal with it?

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paul Murphy: 61. To ask the Minister for Finance the detail of his contacts with senior management of a bank (details supplied) in relation to the proposed sale of part of its loan book to vulture funds; his views on legislation to allow the Government block the sale of this loan book; and if he will make a statement on the matter. [14114/18]

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paul Murphy: Permanent TSB came before the finance committee last week. The 75% State-owned bank indicated it intends to proceed with so-called Project Glas, which would have the consequence of about 18,000 families, including homeowners and renters, being thrown to the vultures whose only concern is short-term profit. Will the Minister use the formal consultation process to make it clear that the...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paul Murphy: Project Glas is a green light to destroy the lives of homeowners whose loans are included in this particular loan book sale. At a meeting of the Joint Committee on Finance, Public Expenditure and Reform, and the Taoiseach, last week, I and other Deputies asked representatives of Permanent TSB what would be their response if, in the process of formal consultation, the Government was to make...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paul Murphy: These mortgage holders have been subjected to a campaign to demean them as people who are not worthy of having mortgages or owning homes. A key part of this campaign was the Permanent TSB statement that some people have not engaged for more than seven years. When I asked the bank's representatives at the joint committee's meeting last week to indicate how many people have not engaged for...

Ceisteanna - Questions (Resumed) - Priority Questions: Loan Books Purchasers (27 Mar 2018)

Paul Murphy: That is not what I asked.