Results 14,381-14,400 of 16,492 for speaker:Ciarán Lynch

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

Ciarán Lynch: -----and I'm not asking you to do so either.

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

Ciarán Lynch: And in respect to the witness, that is a document that he has signed and a legal position that he has to maintain.

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

Ciarán Lynch: Leading, Deputy, now. I'll allow you with the question but don't lead, okay?

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

Ciarán Lynch: Now, let Mr. Mulryan answer the question. You're putting-----

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

Ciarán Lynch: And if he wishes to.

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

Ciarán Lynch: Thank you very much, Deputy. I'm going to bring matters to a wrap-up. I'm want to deal with a couple of items with you ... and maybe if I can just take a different sort of aspect to the earlier question Deputy Doherty asked, Mr. Mulryan, when you said that ... or you were giving evidence that there was a lot of ... more people came into the construction business, people without a history in...

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

Ciarán Lynch: Sorry, in that the ... going back to your earlier response to Deputy Doherty, where you said there was thousands of people came into the property ... construction, people who had no background in building became developers overnight and so forth. In earlier testimony to this inquiry, there was discussion with regard to a different type of business model into the future that might be more...

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

Ciarán Lynch: Could you maybe elaborate upon that, please?

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

Ciarán Lynch: Yes, the funding of a construction company, as opposed to one person being a limited company and ending up with a situation maybe they're €1 billion in debt or a very, very small company with that type of debt.

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

Ciarán Lynch: Okay.

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

Ciarán Lynch: Just to return to the past for a while, then, Mr. Mulryan, NAMA applied a discount of 5.25% to the long-term value of acquired properties to cover due diligence - this was on the macros level now - 0.25% and enforcement at 5%. In your dealings with Irish banks, how would you rate the extent to which the banks sought robust legal documentation as part of the application process and was...

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

Ciarán Lynch: All right, okay. Just a final question there. On, I think it's page 6 of your statement ... and I can bring it up, if you wish, if you don't have it there in front of you. You can contrast ... sorry, actually I've the wrong there, sorry. Did you observe any differences in loan monitoring between your various lenders? For example, did all lenders undertake inspections of key milestones?...

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

Ciarán Lynch: Okay. And finally, is ... it's just something you picked ... that you commented on earlier and if I ... maybe I can just pick up on that once more and get some further clarification. You commented upon how banks had loosened their lending standards and if maybe if I can ask is ... did this have any relationship to why you diversified outside of Ireland and maybe if you could elaborate-----

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

Ciarán Lynch: You commented earlier on how banks had loosened their lending standards and maybe if you could just talk a bit further to that and if you can say, if this was in any way related to you diversifying your business model outside of Ireland?

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

Ciarán Lynch: Yes.

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

Ciarán Lynch: Or in general? You had done business over a period of time, so you would obviously been dealing with the financial institutions over a period. With the variation and the loosening of the model, did the Irish banking model have any relationship with you diversifying outside of Ireland?

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

Ciarán Lynch: Okay. Thank you. We'll move to wrapping things up so and if I can move to Deputy Michael McGrath, please.

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

Ciarán Lynch: Thank you very much. Senator O'Keeffe.

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

Ciarán Lynch: It's very confidential ... so.

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

Ciarán Lynch: Mr. Mulryan now might not be factual in that. I don't want you to be speculating. So, unless you can ... factual-----