Results 10,661-10,680 of 26,053 for speaker:Kieran O'Donnell

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Can I go to page 4 of your statement? It is in your role dealing with investor relations. You said:Throughout 2008 the international crisis escalated. The inherent difficulties surrounding the entire banking industry, and specifically Anglo Irish Bank's position as a small player in the banking pool, was compounded by shareholder issues. By these I refer to Sean Quinn's [contracts for...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: And who did you ... who were the investors ... who was the advisers you took on?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Okay. And you might just elaborate as to ... were you tasked with project managing this unravelling?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Willie McAteer.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: When did you first become aware of the contracts for difference - with Seán Quinn's contracts?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: And how difficult did you find it to actually unravel? Just give me ... how complicated ... I suppose what I want to know really is how difficult it was and in your dealings with investors overall, what implications did it have for the bank itself in terms of operating, in terms of liquidity if the contracts for difference hadn't arisen - the Seán Quinn contracts for difference. Do you...

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Drip-fed by whom?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: You might explain that for the ordinary person when you say counterparties - the nine.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: They pay, effectively, a deposit or----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: ----- a small sum up-front.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: If the shares go up, you gain and if the shares go down, you cover the difference.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: So there was nine-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: There was nine banks.

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: And how did you get to a point where you found out who these nine were?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Okay and how did he come up with it?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Specifically, the Seán Quinn contracts for difference - what impact did you believe did that have in terms of rumours in the markets, did it have on the share price and more particularly, what impact did it have on Anglo Irish to be able to attract, we'll say, deposits, to be able to attract with bonds investors?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Did it have ... the root of my question is on the night of the guarantee, would Anglo Irish ... 30 September ... would Anglo Irish have had the liquidity problem if the Seán Quinn contracts for difference had not arisen?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: The liquidity would?

Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)

Kieran O'Donnell: Were these counterparties based in Ireland, England or Europe or America?