Results 1,561-1,580 of 6,295 for speaker:Michael D'Arcy
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Is it correct that nobody within his organisation was aware of it?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Did Ms Hunt's company or industry contribute to the banking crisis?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Figure one in the paper Ms Hunt provided suggests that if it had been in keeping with a similar time schedule for cycles, shortly after 2006 there would have been a reversal. She has said in previous evidence that the expectation would be similar to previous reversals, with a reduction of perhaps a maximum of 30%.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: CBRE has data going back to the 1970s from IPD. At what stage did Ms Hunt change her view that a reverse was likely?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: The person who gave evidence just before Ms Hunt was from Jones Lang LaSalle and he provided us with information that the record €1.2 billion investment of 2005 was trebled in 2006. Would that be a normal data set for a record year, on the basis of an international remit allowing one to look at comparative jurisdictions?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: No, trebling, sorry, a trebling of the previous record.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: We had that going back to 2001, 2002 and 2003.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: In 2005 there was €1.2 billion invested. That was the record then. In 2006, year on year there was a trebling of that amount to €3.6 billion invested. What I am asking is, in other jurisdictions that Ms Hunt's company would have had an opportunity to view, would it be unusual to have a record investment year trebled the following year?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: May I pursue a line that Deputy Pearse Doherty also pursued? When there is trebling from one year to another, Ms Hunt said IPD tends to have a lag. Surely the lag should have been obvious by the time the UBS report was produced 15 to 18 months later and surely it should have been available for CBRE as a research group?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Ms Hunt said that IPD requires a quarterly valuation. Does her company participate in those valuations?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: There are currently 140 staff at her company.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: How many staff were within the company at the peak of its performance?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Would the firm have been hired by property developers to perform for them?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: For property-related matters.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: In terms of the valuations CBRE would have provided for developers, did the firm get sight of the actual price that was achieved? Did it get an opportunity to put that research together and examine its valuation versus the actual sale price achieved?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Is that a "Yes" or "No"?
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: I refer to the valuation provided by Ms Hunt's company to a developer.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: When the actual deal was concluded and the price was concluded, did CBRE have analysis between the valuation provided - the professional valuation-----
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: Ms Hunt did not find out if CBRE's valuation was underpriced or overpriced.
- Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)
Michael D'Arcy: So Ms Hunt is not aware of the difference in the price that was achieved potentially.