Results 4,221-4,240 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: Self-inflating, if you like.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: Okay. And then ... how do we explain then a situation whereby someone might put a value or a perceived value, in terms of bidding for a property, and have a valuation done subsequently that would come in at the same amount? I'll give you an example.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: If you look at - and Deputy O'Donnell has raised it before - the Irish Glass Bottle site-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: -----where there was a valuation, I think, in 2006, of €264 million. That same year, a bid was made for €411 million and then the organisation, Becbay, had to get financing from Anglo Irish Bank, so they had the site actually valued after they'd made the bid, and the valuation came in at €412 million.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: It was only out by €1 million.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: How do you explain that?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: Thank you. And just to clarify then, when you're doing a valuation, there is no future element. You don't look forward as to where the property sector might be going or where values might be going, it's the valuation.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: And when there is no market?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: But if you think the market is maybe going into decline-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: -----you can't factor that into the valuation give on that point in time.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (13 May 2015)
Eoghan Murphy: Okay, thank you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Thank you, Chairman, and thank you both, you're very welcome. Mr. Burrows, I'd like to, before we talk about your time on the board, and Mr. Crowley, I'd like to just go quickly to the night of the guarantee, to get a few things on the record, if I may. Mr. FitzPatrick and Mr. Drumm came to see you on the afternoon of 29 September 2008, looking for help for Anglo Irish Bank, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: How long did that meeting last?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: In refusing to give assistance to Anglo, did you or Mr. Goggin say that the Bank of Ireland had its own problems and that the bank might also run out of money if things continued as they were?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: So you didn't give them any information as to your views of your own bank's own position at the time?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay, thank you; and then you initiated the meeting with the Government, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And did you do that at Anglo Irish Bank's request?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay. How did you initiate that meeting?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay. And did you make that approach then through him to Government-----