Results 23,421-23,440 of 26,092 for speaker:Kieran O'Donnell
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: Deputy Mathews, I just want to pursue this.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: I am dealing with a different area. I do not want to lose track of the regulation side. Is Mr. Cullinan saying the regulator would not have conducted its own checks or done its own inspections of the levels of reserves of insurance companies such as Quinn Life? Did it rely entirely on the actuarial report and the auditor's report?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: We are talking about Quinn Insurance.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: I am assuming the Central Bank would have done some sort of risk analysis and review of the reserves of different companies it regulated. Clearly it should have come to light that Quinn was carrying lower reserves. On a risk analysis basis would that not have set off alarm bells in the Financial Regulator's office?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: However, from a managerial viewpoint-----
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: I thank you.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: I welcome the delegations. I refer to the accounts and the financial operation position upon appointment. It states, "The surplus was after the Quinn family had extracted approximately €200 million over the previous two years by gift". Is that from the QIL group? How was that reflected in the accounts? Was it as a director's loan or inter-company loans? What was the money used...
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: So it was an inter-company loan, which was written off.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: I assume this came from the subsidiary company, QIL.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: What was Barlo Financial Services?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: What was €135 million invested in?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: When Grant Thornton was appointed administrator, it was purely for the QIL company as distinct from the entire group.
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: QIL has been sold on to Liberty Insurance. What is Grant Thornton's function at this point?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: Were the gifts long-standing inter-company loans? In what years were they made?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: They were written off the year after in 2008. Is that not unusual?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Quinn Insurance and Insurance Compensation Fund: Discussion (10 Oct 2012)
Kieran O'Donnell: Does it not fall within Mr. McAteer's remit? Does he not have the power to follow the money trail to recover that money from the companies?
- Joint Oireachtas Committee on Finance, Public Expenditure and Reform: Election of Chairman (10 Oct 2012)
Kieran O'Donnell: I wish the Chairman well in his new role. He comes with experience and I have no doubt he will be an excellent Chairman. I appreciate the overview he has with regard to how he sees the committee working. I congratulate the Minister of State, Deputy Alex White, on his elevation. He conducted meetings in a very thorough and fair fashion and I wish him well.
- Public Accounts Committee: Vote Management and Budgetary Situation in 2012: Discussion with Department of Health and HSE (9 Oct 2012)
Kieran O'Donnell: That is the wisest comment made all night.
- Public Accounts Committee: Vote Management and Budgetary Situation in 2012: Discussion with Department of Health and HSE (9 Oct 2012)
Kieran O'Donnell: Per annum?
- Public Accounts Committee: Vote Management and Budgetary Situation in 2012: Discussion with Department of Health and HSE (9 Oct 2012)
Kieran O'Donnell: Is that a consistent figure over the past number of years?