Results 20,261-20,280 of 26,053 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Did PwC provide hard figures to state why it was recommending that? Mr. Wallace is basing the recommendation all the time on the requirement to get the best return. Did PwC use criteria as part of the recommendation to the effect that the liquidators should get the best financial return by not allowing individuals to bid for their mortgages?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Did PwC back that up empirically?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Did Ms Nolan not indicate that the two of the bidders were regulated institutions?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Did Ms Nolan not make reference to two of them?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: I thank Ms Nolan for the clarification. If the bids are allowed to proceed without a legal commitment in respect of the code of conduct and the Minister subsequently introduces legislation to require adherence to the code of conduct, could the bidders sue the liquidator of IBRC? The bidders have opted into the voluntary code of conduct and are aware that the Minister will introduce...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: This is not a normal liquidation because taxpayers effectively own IBRC. The price is clearly factored into the voluntary commitments. If the liquidators allow bids to be made on the basis that they will be required to comply with the code of conduct, they will flush out individuals who are seeking to flip the loans on rather than comply with the code of conduct. Would it not be best...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: How much of the IBRC loan book, in terms of value, does Mr. Wallace expect to be moved to NAMA? On what date was the independent valuation conducted? What does Mr. Wallace anticipate will be the return to the taxpayer from the sale, or will the IBRC liquidation impose a cost on taxpayers? What are the current projections?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Have any of the sales made to date been completed at a price significantly higher than the independent valuation?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: How many of the loans will end up moving to NAMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: That would be just short of 30% of the loans.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: How much was anticipated to move to NAMA at the start of the process?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: What was the level?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: On what date did the independent loan valuations take place?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: When were the other valuations completed?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Could one make the case that the independent valuations were too low and the buyers are getting bargains, given that 80% of the loans will be sold on the open market and 20% are expected to move to NAMA?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: I hope the margin will be above the independent valuation.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: Will Ms Nolan give the background to the reluctance, prior to the sale, to amend the legislation to require the buyer to comply with the code of conduct?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: What is Ms Nolan's position on the possibility of introducing a general change applicable to everyone prior to the completion of this sale? Ultimately, this relates to people's lives.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: I would like the witnesses to clarify a number of points, the first of which relates to the inclusion in the bid of a provision suggesting that a legal commitment would be provided on the code of conduct. The Minister stated that he would legislate if the buyer did not abide by the code of conduct once the sale had been completed. A voluntary understanding has been reached with the bidders,...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Sale of IBRC Mortgage Loan Book: Discussion (26 Feb 2014)
Kieran O'Donnell: I welcome the delegation. It has been made a condition that any bidder must honour restructuring arrangements already agreed. If it were made a condition of sale that they must comply legally with the code of conduct for mortgage holders, what would be the difference in value?