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Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: -----on behalf of the plaintiff?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Mr. Meaney can feel free to disagree with me, but I am saying that unnecessary legal costs were incurred in this regard, right up to the day of the hearing. There were opportunities to settle this case, given the facts, well before it came to the High Court. Mr. Meaney is free to disagree with me but I put this question to him

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Does Mr. Meaney mean the CEO as the executive?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: When was the mediator appointed?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Yes.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Did that happen?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: What was the cost of that or is Dr. Brady free to say?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: With regard to the suggestion that AIB moved and had no choice but to sell, does this mean that all the property was charged?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: What other property was charged as security?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Under the bank charge?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: There were a number of bad decisions, and I note the witness has referred to the downturn in the economy, but the Indecon report has highlighted very inadequate capital appraisal. It was not just about the downturn in the economy, bad decisions were made. There is a legacy from bad decisions. Various other properties that have no debts are then charged. As a result of the bad decisions,...

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Mr. Meaney or Dr. Brady said last week that Harold's Cross was the sacrificial lamb, or words to that effect; a sacrifice was made or victim-----

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: And Dr. Brady agreed.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: I thought he did.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: The Indecon report did not recommend the sale of the Harold's Cross property.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: It recommended consideration of the disposal of a number of assists, and it included a list.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: It looks like the AIB said that the Harold's cross property should be sold.

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: Why?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: The decision was made by a previous board in 2015?

Public Accounts Committee: Bord na gCon: Financial Statements 2015 (Resumed) (18 May 2017)

Catherine Connolly: The witness confirmed earlier that they accepted the recommendations in principle.

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