Results 18,281-18,300 of 26,656 for speaker:John McGuinness
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: The bank could not make it work for the bank.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: For the bank. It was nothing to do with the customer. The reason I am saying this is because-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: All the emails I have received from various customers since our last meeting suggest they have tried in vain to deal with the banks. Mr. O'Sullivan said his bank made an average of 32 attempts to deal with customers to find a solution. I cannot give him a number because it is his bank and his customers but I get a sufficient number of emails to tell me that customers have been endeavouring...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Does Mr. O'Sullivan think the bank has done enough?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: If the bank is writing off debt, why does it not work through its loan book and offer as a solution, where it is appropriate, writing off debt equivalent to the amount the bank might write off for a vulture fund and assist the borrower to continue? Has the bank done that?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Has the bank written off debt to the tune of the debt it will have to write off when it sells to a vulture fund?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Come on, Mr. O'Sullivan.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Vulture funds will not pay the bank over the amount.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: They will pay the bank well under the amount.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Why not-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Why not give that deal to the bank's customer?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: I am not asking for debt forgiveness.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: PTSB will write-off debt when it sells the loans to the vulture funds. Bearing the write-off that the bank has in mind, maybe the customer might pay it more than what it will receive from the vulture funds in order to restructure a loan. Why not give the customers the benefit of what it is about to do? Why not allow customers to stay in their homes and pay a restructured loan?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: No, it is not debt forgiveness.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: PTSB is prepared to throw people out on the street in the interest of getting money from the vulture funds. Perhaps the sum would be greater if the bank decided to sell the loans directly to its customers. That is not debt forgiveness as the bank would make its customers pay more than what it might get from a vulture fund. I am sure such a situation is of interest to the bank's...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: Was it a moral hazard to give the banks €4 billion?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: An EU commissioner has told this committee that one of the country specific recommendations for Ireland was to write-off debt. Let us say I owed the bank €10,000 but it wants to sell the loan to vulture funds for €5,000 but I ask the bank to sell the loan to me for €7,500 or €6,000. That is not debt forgiveness. That is a debt write-off. The bank would make...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: The people to whom I refer, have worked with the bank morning, noon and night to try to find a solution. I have asked the delegation about debt for equity and debt write-down. Sure there will be a cost involved but I ask the bank to consider the matter. Obviously it is of a mind not to consider the matter. This morning, Mr. O'Sullivan was in attendance and I certainly would not have taken...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: The bank is willing to put the bundle of loans into the market yet it still does not know whether they will be categorised as non-performing.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach: Proposed Sale of Non-Performing Loans to Private Investment Funds (Vulture Funds): Permanent TSB (22 Mar 2018)
John McGuinness: If the loans are re-categorised after the consultation by the bank, will it remove them from the bundle of loans for sale?