Results 5,501-5,520 of 15,555 for speaker:Eoghan Murphy

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay. So it was an easy call then for you to make, if there's no risk involved-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: -----only an upside?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay, so, if there's no risk involved, why not up the asking price? There's no risk to you, so you've nothing to lose and, if you bid a higher price, you could potentially gain?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: So why not ... why bid low? Why not bid high?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: I don't understand.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Yes

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: But I thought you said there was no risk to making the investment on your part?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay. So, given the overheating that you were aware of in the market, and there's too much debt as well in the real estate sector, and it was the first time an approach like this had been made to you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: -----did that concern you at the time?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay. And just on page 7 as well, in your statement, you say: Ballymore sought to manage its multi-bank borrowing by: (1) Availing of credit from various providers so as to mitigate any level of dependence or overreliance on a specific source ... Were you successful in this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Were you successful in availing of credit from various providers so as to mitigate any level of dependence or over-reliance on a specific source?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Yes. I mean, just because, looking at page 11 in the table that you provided, and it's very helpful. I mean, the majority of your lending is with one institution, Anglo Irish Bank. So how did it come to be that the ... I suppose the policy of Ballymore was to spread its risks across banks in terms of its borrowing, but then it ended up with having 50% of its borrowing from one Irish...

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: How did that happen? I mean, was there a breakdown inside Ballymore in terms of your internal lending strategies, your risk procedures?

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: Okay. You also said that you sought to manage your multi-bank borrowing by - point 2 - "Presenting opportunities to several providers seeking the most competitive commercial terms." If we again look at the table on page 11, it would appear that Anglo Irish-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Jul 2015)

Eoghan Murphy: I'm just using information that's been provided, Chair.