Results 7,521-7,540 of 7,975 for speaker:Joe Higgins

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: And, Mr. O'Reilly, the ... at the end of the day, when the bubble crashed, there are many figures that, in the media, would be said to be dramatic. One was that in March 2009, the top 13 debtors owed Anglo €14 billion and the total bailout cost, €64 billion, by a few hundred people, and you would have been among the top people in that. Is it right that a few private...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: But, Mr. O'Reilly, with respect, I mean, you said in your statement "[We are the] most successful residential property developers". With €2.8 billion debts going into NAMA, are you in denial?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: About the reality of what bankers in association with the developers ... the state they have left this economy and people in. And you refer to yourself-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes, but I'm-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: -----querying that Mr. O'Reilly describes in page 2 of his statement, "[the] most successful residential property developers."

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Well, anyway, it's words to that effect. We ... I haven't time, but it's-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Sorry, I've lost my-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: I'll ... I'll ... I'll send it up to you before the end, Chair-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: -----because-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: -----to ensure that it is there. Yes. Mr. O'Reilly, because of ... time is ... is nearly up, are you ... now, you said you borrowed not from the taxpayer, from private banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes. Why should ... why was the taxpayer then lumbered with picking up the debts that you borrowed from private banks?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Do you understand why ordinary people out there, who have suffered massively as a result of the crash, with the austerity, for example, the unemployment, the forced emigration, do you understand why they feel very, very bitter towards developers and bankers who were central to this?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Mr. O'Reilly, there was a developer in here yesterday who said that he was a victim - a victim of the whole situation that developed. Do you see yourself as a victim?

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes. Just to clarify the quote, Chair. Page 2, "Founded in 1989, Castlethorn Construction is one of Ireland's most successful residential property developers". Just for-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes. Well, I did. So-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes, but would you agree, Mr. O'Reilly, that you mightn't have that level but you're going in that direction, certainly by making a statement like that. Mr. O'Reilly, can I ask you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes. Just two very short questions, I'll put them together because I'm out of-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Yes. You refer in page 8 of your statement that given the risks involved, lenders sometimes lay down key milestones where finance was issues for site acquisition, performance milestones, etc. Can I just ask you in a general way if that was commonplace for the type of lend that you were involved in and if that was commonplace practice? You've gone into it in some detail but just to...

Committee of Inquiry into the Banking Crisis: Nexus Phase (23 Jul 2015)

Joe Higgins: Right.