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Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So are there circumstances where they shouldn't?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Let's say a minimum of the £74.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Your company put together syndicates to purchase property, isn't that correct?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So were the investors in this, were they sophisticated investors or were they people putting in pensions or savings or ... what kind of profile would-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So where ... Would they have gone from people like me putting in life savings to pensioners to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Did property syndicates, in your view, contribute to the crisis?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Are you aware - I'm not talking about your own scenario - but would you be aware of any developers who, in co-operating with NAMA ... who are presiding over NAMA disposals which they were involved in, are retaining portions of that property or side deals or kickbacks for themselves?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: But I'm not asking about Mr. Quinlan, I'm asking about-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: That's grand. The ... the questions that I put have not been specific.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Yes. Can I ask what impact, in the general sense, transfer of loans into NAMA has had on your business?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: No, in fairness, Chairman ... Chairman, I think you might have to go into private session because the most recent-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: -----the most recent question-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: With respect ... with respect, this is question No. 2 of the legal people's own questions. So, you know, one wonders what we're doing here today if we can't discuss NAMA. Mr. Quinlan has very kindly come along to assist us in our endeavours on behalf of the people. When legal's own questions themselves are now being ruled out, one can hardly be wondering why, you know, I can ask no...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So maybe you need to go into private session to decide why we are taking up Mr. Quinlan's time at all today.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Because I do apologise for wasting your time if we can't even ask you questions pertinent to the area that we're supposed to be asking. When legal themselves have written ... if they'd like to just check on question No. 2, that you yourselves have provided.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So I think we should go into private session. Maybe there might be a seconder for that around the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Good. Let's go.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Thanks very much, Chair, and thanks Mr. Quinlan, sorry for the interval. Can I ask: when sourcing finance for a particular deal, from let's say Anglo Irish Bank or Deutsche Bank or whatever bank, somebody is operating with a syndicate at high levels of finance, like your own company, for example, was the relation very personal, was it a case of lifting the phone, or did you fill out an...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: Did you find that, as your reputation grew, with your clients and so on, were banks competing?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Jul 2015)

Marc MacSharry: So, did this, with the benefit of hindsight, ever affect the underwriting quality, in your view, as banks approached you to wish to finance Quinlan Private's next deal?

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