Results 5,961-5,980 of 26,032 for speaker:Kieran O'Donnell

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: Correct.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: Can Mr. Hall deal with the process? The issue of receivers has come to the fore. Can something be done about Danske? Has the matter featured on his radar?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: In the time remaining I wish to ask about decoupling business debt from mortgage debt. In one case I found that there was equity in the family farm and the mortgage on the home was very high. A situation arose under the cloud of trying to restructure the debt, and they flogged the business asset to reduce the mortgage in order to get the mortgage loan ready for selling on. There is an...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: As I have said to the other delegations, I want Mr. Hall to give practical solutions. In a lot of general cases banks are dealing with people reasonably well and going through it with people. There are cases - I have mentioned Danske specifically because I have come across such cases - in which a bank has been too aggressive. At times it lacked an element of logic and was only concerned...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: The Chair should show consistency of treatment.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: A blueprint for the banks.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: I welcome everyone. My point relates to the paradox of positive equity where it actually works against a person to be in positive equity. Are the witnesses finding that institutions are almost becoming bloodhounds for positive equity?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: They are chasing it down every alley they can.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: I just wanted to get witnesses' observations because in the previous session, I raised the case of one institution which has become very aggressive recently, namely, Danske Bank. It is coming out of National Irish Bank, which would have a broad range of customers. People are coming in to me who are in positive equity. They are, effectively, getting voluntary surrenders. Am I right in...

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: If people are involved in the small business sector in any way and have property with any kind of positive equity, it can impinge on their businesses. It appears to be a growing phenomenon. It is the paradox of positive equity. Ms Sadlier has given us a good insight into it.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: What would be Mr. Maguire's observations on a practical solution? What proper exit mechanisms should have been put in place with banks leaving Ireland and where a portfolio of loans is being made ready for sale?

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: It had a very good name as an institution.

Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Mortgage Arrears Resolution Process: Discussion (2 Apr 2014)

Kieran O'Donnell: I understand the point Mr. Burgess is making but that is not much good to a business person, farmer or young couple. When people are approaching us in twos and threes we know there is a major problem. I want to get his perspective on the lack of consistency between providers. Could simple rules be devised to enforce some sort of equity?

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: What is the Comptroller and Auditor General's overall observation on this matter?

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: I direct this question to the Comptroller and Auditor General. When the then Comptroller and Auditor General would have carried out the examination in terms of the position, as distinct from the person, I have no doubt this particular issue would have come in within the normal audit in terms of An Garda Síochána in 2007. The Comptroller and Auditor General might give us a comment...

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: The Comptroller and Auditor General is straying into territory that-----

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: A career in politics might beckon.

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: Is that even on the issue of going back and reviewing the audit that was carried out in 2007 and informing the committee as to what were the issues that came to light or what was the outcome of the audit? Obviously, there is a commission of investigation under way which we must allow do its work. I am looking at this in terms of the practical aspects of the Committee of Public Accounts and...

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: That is not the issue I am raising. I am asking that the Comptroller and Auditor General in his role would look at the audit that was carried out overall in 2007 and give us an update as to what arose from that audit, no more and no less.

Public Accounts Committee: Business of Committee (3 Apr 2014)

Kieran O'Donnell: A commission of investigation is being set up. Before proceeding should we wait to see its terms of reference? The Joint Committee on Justice, Equality and Defence is taking such an approach. Do we need to consider taking a similar approach?