Results 15,221-15,240 of 16,492 for speaker:Ciarán Lynch

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: That's a supplementary now, Deputy. You're over time.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Last point.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Now, Mr. Fingleton, I just want to deal with a couple of matters myself and, time permitting, I will invite Senator O'Keeffe, after which then I'll propose that we take a break. Just to stay on that matter with regard to the management of loans at board level. Can I just specifically ask-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: I want to deal with the issue of the management of loans that Deputy O'Donnell is relating to you, just to-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: -----deal specifically with it. Did you authorise loans before they were approved by the board and were the loan amounts ... were the loan amounts required board approval? Did that happen?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. And in any situation, would there ... was there subsequently seeking of retrospective approval?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. Mr. Fingleton, earlier this morning when you were speaking in your opening statement, you said about being here as a voluntary witness. You are here as a directed witness, like every other witness that has been here before the banking inquiry. I do appreciate your co-operation, but you are not here in a voluntary capacity, just to clarify that. And-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: -----and you are here under oath. So, I just want to get it on the record. Are you saying, as a matter of fact, that you never authorised loans before they were approved by the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. Were loans given out without proper legal paperwork being in place?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. I'd just ask a question-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. I want to just briefly also deal with the lending strategy of your institution, Mr. Fingleton. Did anyone on the board ever challenge the overall lending strategy? In particular, did anyone on the board ever challenge the practice of taking equity stakes in developments in exchange for 100% funding?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay, there was a------

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: You, earlier, spoke about the composition of the board and you said, and you explain, as to how decisions were taken on the board. Did any members of the board ever propose an increase or new members ... that the board size should be increased, or that other members should be brought on board to it, and was that ever proposed, and was there ever a vote taken on such a proposal?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Did those proposals ever come to a vote, Mr. Fingleton?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Did those proposals ever result in a vote on the board?

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Okay. Just finally, Mr. Brendan McDonagh from the NTMA, when he was before this inquiry, spoke about the INBS business model. In one comment he said, "I think we might, and I speak again personally here Deputy, I think a few of my colleagues and myself would have been sceptical about the business model of INBS and Anglo Irish Bank." That is in regard to the NTMA's perception of your...

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: Senator Susan O'Keeffe.

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: We had legal briefings yesterday afternoon, Senator, on this matter-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)

Ciarán Lynch: -----so I just want to pull you back a bit now.