Results 9,001-9,020 of 16,492 for speaker:Ciarán Lynch

Written Answers — Department of Social Protection: Deserted Wife's Benefit Eligibility (2 Apr 2015)

Ciarán Lynch: 62. To ask the Minister for Social Protection when a determination will be made on an appeal for deserted wife's benefit in respect of a person (details supplied) in County Cork; and if she will make a statement on the matter. [13614/15]

Written Answers — Department of Health: Hospital Appointments Administration (2 Apr 2015)

Ciarán Lynch: 153. To ask the Minister for Health when a person (details supplied) in County Cork will receive an appointment in South Infirmary Victoria University Hospital; and if he will make a statement on the matter. [13658/15]

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: I welcome everyone to the 18th public hearing of the Joint Committee of Inquiry into the Banking Crisis. This morning we will be focusing on issues related to the nature and functioning of the commercial real estate market in the period prior to 2008 in the context of the banking crisis in Ireland. In our first session we will hear from a representative of Jones Lang LaSalle, Mr. John...

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: I thank Mr. Moran. I will deal with Mr. Moran's concluding comments before calling the first questioner this morning. Mr. Moran spoke about how Jones Lang viewed the market between 2006 and 2007. Does Jones Lang employ or retain its own economists or does it buy in financial intelligence that specialises in property market trends and developments?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Would they be feeding into the 58,000 employees or are there other intelligence units?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: What was the global and national position of Jones Lang LaSalle in the lead-up to the crisis period for the development of the banking crisis and the guarantee? Who was it warning or was it aware that warnings were necessary?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Was Jones Lang advising sellers and purchasers in equal measure?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: I want to digress. Would it be correct to state that the valuation of a property in commercial terms, for retail or whatever, would be determined by the rent yield that could be acquired over the lease period of the rental agreement?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: In that context, does Mr. Moran know what a side letter is or could he explain what it would be when a rental agreement is put in place?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Am I correct in saying that there was a change in the legislation about the disclosure of side letters around 2009?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Prior to 2009 how were side letters impacting on the visible rate of rent?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Does Jones Lang arbitrate as well?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: I want to focus on side letters. Let us say, for instance, the revealed rent that is now in the register of commercial leases, prior to 2009, was €100,000 a year for a shop in Dublin. Would a side letter create things such as a fitting cost for the shop?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: It might contain things such as a rent break in the lease agreement.

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: What other examples are there of things that might be contained in side letters?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Prior to 2009 these would have been private and confidential. Is that right?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: During the arbitration process were those side letters private or were they revealed? If a tenant moved into a shopping centre and went into an arbitration, would that tenant, whose rent was benchmarked on that headline rent of €100,000, have access to those side letters or were they confidential at the time?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Mr. Moran would understand what side letters were.

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: Given that the side letters were private, did they give a true reflection of what the tenant next door paid in rent?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

Ciarán Lynch: When an arbitration of a rent was conducted in the bubble period, was full and accurate information available as part of the arbitration process?