Results 23,001-23,020 of 35,891 for speaker:Pearse Doherty

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: So it wasn't every loan.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Every loan wasn't backed by a personal guarantee.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Of ... of, for example, not wanting to individualise it, but are you suggesting that this case where we know - well, where it has been given in evidence - that there was no personal guarantee ever given, you are suggesting that a personal guarantee would have been asked for, is that what you are saying?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: What was the policy? Just explain. You're the head lender in Anglo Irish Bank.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Explain the policy because we're ... you told us there was personal guarantees in all loans, now there was not in all loans but they were always asked for, now you're not-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: So did you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Did you look for it? Did you-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Okay, so in relation to this loan for example, you would've requested of O'Flynn Group for a personal guarantee.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: But you're just after telling us that they was ... they were looked for in all cases.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Yes, and I asked you "And did you?" and you said "Yes".

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: So not in all cases.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Okay.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Well, I was just going to go on to that issue in terms of security and the perfection of security. And Deputy Murphy rightly outlined the €477 million, I think it was, from NAMA, but NAMA confirmed that that for the institution - the individual banks - was in the region of €2 billion. That's how much loans that could not be perfected because of ... or could not ... had to be...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Yes, and ultimately you as head of lending would it be?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Yes.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: What do you mean "cross jurisdictions"?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Yes, these are Dublin... just see the top of the paper ... these are Dublin loans.

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: And you would have been told "No, it's not", and you still allowed for draw-downs, for example, of €149 million without any security being effected, £11 million sterling without security being effected, US $30 million, €23 million in another one, €18 million in another one, €14 million in another one, and so on. And that's only ten out of the 12 loans that...

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: Well, given the fact that we know that €2 billion from the financial institutions that went into NAMA of loans that were issued, had to be written off basically - the security wasn't perfected and the majority of them rested with your bank - do you not think that there was a serious issue here, which this audit was outlining to you?

Committee of Inquiry into the Banking Crisis: Nexus Phase (9 Sep 2015)

Pearse Doherty: But can I put it to you that the reality that we're dealing with today is that, according to NAMA, €2 billion of loans issued by financial institutions, of which the majority of them rested ... originated from your institution, could not be pursued because the security was not perfected? So, it's not ... it doesn't seem to be the case that this was just a delay, that the letter was in...